INVESTMENT HIGHLIGHTS
- ±7.14% CAP Rate on beautifully located Student Housing; Low Down-payment with 30-year fixed financing
- Priced to Sell at lower price/sf VS competing SFRs
- Perfect for Owner-User or Investor –flexibility as a Student Housing investment, or primary residence or combinations of both
- Superb location in Pomona, quiet tree-lined residential area, and minutes away from Cal Poly Pomona and Fairplex Pomona
- Walker’s Paradise - Walk Score 92
- Transit friendly location with superb access to FWY 10, and minutes from FWY 71 and FWY 57
PROPERTY HIGHLIGHTS
- Large EIGHT (8) bedrooms and two (2) bathrooms SFR priced to sell at much lower price VS competing SFRs
- Operated as Student Housing with in-place tenants and value-add opportunity
- Very well-maintained 2 story SFR with plenty of charm and characters; Upgraded electrical panel and subpanel
- Corner Lot with large 9,148SF lot; 2 car garage ready for ADU conversion!
- Huge side yard and backyard; extra parking space in the backyard through alley access (rolling gate)
- Located in one of the best locations in Historical District Pomona, right on Main Street and walking distance to Downtown Pomona, Museums, Churches, and surrounded by well maintained SFR
- Only minutes away from CAL POLY POMONA, Harvey Mudd College, Devry University, Pomona Fairplex, Claremont Downtown, Raging Waters, Bonelli Park area, etc.
Executive Summary
Growth Investment Group California is proud to present the sale of 695 W Main Street, Pomona, a beautifully located single family residential that is operated as a student housing and carries a significant value-add opportunity. Offered at a very low price compared to competing properties and an extremely attractive ±7.14% CAP Rate (as a fully occupied student housing - buyer to verify), this offering provides an excellent ±9.47% Cash-on-cash return with a low downpayment on a 30-year fixed mortgage (buyer to verify).
The property is strategically located in Pomona Historical District, and within walking distance from Downtown Pomona. It has a very high Walk Score of 92 and only less than 10 minutes to CAL POLY POMONA. The property is only minutes away from Claremont Colleges, Pomona Fairplex, Claremont, San Dimas, La Verne and other well-known cities in East San Gabriel Valley. It is currently leased out to CAL POLY Pomona students with only 3 remaining bedrooms available.
The property was built in 1903, a two-story colonial architectural style, and has a total of 8 bedrooms and two bathrooms. It has a large 2,900sf living space and is situated on a large 9,145sf lot. It has been fully upgraded with modern upgrades, and electrical panels have been upgraded as well. The large bathroom is a communal bathroom with triple sinks, three shower stalls, and several private toilet areas. One of the vacant bedrooms is a large bedroom that could easily accommodate 2 students. Washer and dryer is included in the rent – savvy owner should replace this into coin operated machines to boost the income.
The property has a side yard and back yard and has alley access to the parking area in the back. There is a 2-car garage that is being used as a game room. Savvy owners should convert this 2-car garage into a junior ADU. There is additional parking space (open area) accessible from the alley (gated).
Centrally located in Pomona, CA and just within minutes to Cal Poly Pomona, Claremont Colleges, Fairplex Pomona, Claremont, La Verne, San Dimas, Phillips Ranch, and other well-known cities in the area. It is minutes away from Lake Bonelli area, Raging Waters, dining and transportation on Holt Ave. It offers superb access to multiple freeways (FWY 10, FWY 71, and FWY 57).