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695 W Holt Ave

Pomona, CA 91768
  • $2,245,000
  • STATUS: Active
  • ON SITE: 115 Days
  • ID#: OC21142040
UPDATED: 39 min ago
$2,245,000
  • 0
    BEDS
  • 0.41
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1924
County:
Area:

School Ratings & Info

Description

RECENT PRICE REDUCTION! VERY MOTIVATED SELLER!!100% OCCUPIED WITH TOWNHOME RENTAL UPSIDENeo Pomona Plaza is 100% occupied with 4 of the 6 retail leases not expiring until 2024. The townhome units are only renting for $1,500 per month which is over $500 below market, as-is, providing significant upside.OPPORTUNITY ZONE LOCATIONThe community is in an Opportunity Zone, that provides investors with beneficial tax treatment for making investments made within the zone.PRIME MIXED-USE ASSETThe property was renovated in 2009 and is in pristine condition relative similar sized assets in Pomona. The property boasts 24 parking spots and is positioned on a corner lot.PROXIMITY TO DOWNTOWN POMONANeo Pomona Plaza is less than 1 mile from the Downtown Pomona Metrolink, benefitting the retail and residential units. SHORT COMMUTTE TO TOP EMPLOYERSThe mixed-use asset is less than 4 miles from Pomona Valley Hospital (3,230 jobs) and Cal Poly (2,440 jobs).OVER 30,000 CARS PER DAY ON HOLT AVENUE The community has significant frontage on Holt Ave, which has more than 30,000 cars per day. The property is within a mile of the 10 FWY and Western University of Health Services

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T16:26:31.837. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/118860620
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695 W Holt Ave Pomona, CA 91768

  • Price: $2,245,000
  • Status: Active
  • Updated: 39 min ago
  • ID#: OC21142040
0
Beds
0
Baths
0
½ Baths
0.41
Acres
1924
Built
Neighborhood:
687 - Pomona
County:
Los Angeles
Area:
687 - Pomona
Property Description
RECENT PRICE REDUCTION! VERY MOTIVATED SELLER!!100% OCCUPIED WITH TOWNHOME RENTAL UPSIDENeo Pomona Plaza is 100% occupied with 4 of the 6 retail leases not expiring until 2024. The townhome units are only renting for $1,500 per month which is over $500 below market, as-is, providing significant upside.OPPORTUNITY ZONE LOCATIONThe community is in an Opportunity Zone, that provides investors with beneficial tax treatment for making investments made within the zone.PRIME MIXED-USE ASSETThe property was renovated in 2009 and is in pristine condition relative similar sized assets in Pomona. The property boasts 24 parking spots and is positioned on a corner lot.PROXIMITY TO DOWNTOWN POMONANeo Pomona Plaza is less than 1 mile from the Downtown Pomona Metrolink, benefitting the retail and residential units. SHORT COMMUTTE TO TOP EMPLOYERSThe mixed-use asset is less than 4 miles from Pomona Valley Hospital (3,230 jobs) and Cal Poly (2,440 jobs).OVER 30,000 CARS PER DAY ON HOLT AVENUE The community has significant frontage on Holt Ave, which has more than 30,000 cars per day. The property is within a mile of the 10 FWY and Western University of Health Services
Exterior Features

Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 8 Parking Total 24 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Common Interest None Community Features Urban Electric Expense 1570 Fuel Expense 0 Garage YN No Gross Income 159000 Gross Scheduled Income 159000 Insurance Expense 2500 Land Lease YN No Laundry Features None Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Net Operating Income 126062 New Construction YN No Number Of Separate Gas Meters 8 Number Of Separate Water Meters 2 Number Of Units Leased 8 Operating Expense 32938 Property Sub Type Mixed Use Rent Control YN Yes Senior Community YN No Sewer None Special Listing Conditions Standard Total Actual Rent 14250 Trash Expense 2832 Utilities Sewer Not AvailableWater Not Available Water Sewer Expense 2734 Water Source None

Listing provided courtesy of Brett Bayless of Brett Bayless, Broker


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T16:26:31.837. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
 
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