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217 E 7th Street $1,800,000

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    217 E 7th Street Pomona, CA 91766

    • 0 Beds
    • 0 Baths
    • 5,376 sq. ft.
    • Multi-Family
    • MLS# CV22190673
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    Views: 8 Days On Market: 84

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    Property Details

    5% REAL CAP Rate in Pomona! We are pleased to exclusively offer for sale this 8 unit multi-family investment in the city of Pomona. The subject property is comprised of 4 single-story duplex style structures of which, all rental units are 1bed/1bath units. Total rental square footage is 5,376 making these large 1-Bedroom units, while the total lot size is 15,579 sqft with lots of open space. Given the additional open land to the rear of the property that may offer a new investor the opportunity to create onsite garage parking for the tenants, or even better, the opportunity to build an additional ADU (buyer to verify with the proper city authorities.) Tenants enjoy interior laundry hookups, private gated yards and entry ways, as well as tastefully appointed interiors. All units are separately metered for electricity and gas while the owner pays for water and trash. The subject property is located minutes to downtown Pomona and within walking distance to restaurants and retail. Priced at a current 5.05% CAP Rate and 13.64GRM, with a 20% upside in rental income, this investment is poised for growth for the next investor.

    • General Features
      • Buyer Compensation 2.250 %
      • Community Features Curbs, Gutters, Sidewalks
      • County Or Parish Los Angeles
      • Number Of Buildings 4
      • Number Of Separate Electric Meters 8
      • Number Of Separate Gas Meters 8
      • Number Of Separate Water Meters 1
      • Number Of Units Leased 8
      • Number Of Units Total 8
      • YearBuilt 1925
    • Building Features
      • Laundry Features None
      • Levels One
    • Property Features
      • Lot Size Acres 0.35
      • Lot Features 6-10 Units/Acre, Lot 10000-19999 Sqft
      • Pool Private Y/N 0
      • Pool Features None
      • Parking Total 0.00

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    Neighborhood

    91766 (Pomona) Demographics

    33 Median Age
    6,997 Population Density (per sq. mile)
    23% College Educated
    $61,018 Estimated Median Income
    9,815 Estimated Total Home Owners
    8,761 Estimated Total Renters
    53% / 47% Estimated Owner / Renter Divide
    4 Estimated Average Household Size
    71,189 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $593,000 Median Sales Price
    21 Homes Sold
    19 New On Market

    Average Days on Market

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,800,000
        10/6/2022 3:02:24 AM Price Reduced Source: Multiple Listing Service New Value: $1,800,000 -4.76%
        9/19/2022 3:02:53 PM Price Reduced Source: Multiple Listing Service New Value: $1,890,000 -3.08%
        8/30/2022 7:35:00 PM New in Database Source: Multiple Listing Service New Value: $1,950,000

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        * This payment calculator is intended for educational and planning purposes only.
        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Based on information from California Regional Multiple Listing Service, Inc. as of 12/4/2022 11:04:43 AM. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.