920 W 3rd St - Apartments FOR SALE


Pomona, CA 91766
$1,050,000 USD
909-827-0687
920 W 3rd St, Pomona, CA for Sale
$1,050,000 USD
Apartments - FOR SALE
1/13
null | 6.42% Cap Rate

920 W 3rd St
Pomona, CA 91766


HIGHLIGHTS

  • 3 UNITS DELIVERED VACANT: 3 units will be delivered fully remodeled, vacant, and rent ready at close of escrow.
  • DESIRABLE UNIT MIX: Four units consisting of three 1BD/1BA and one 2BD/1BA totaling 1,950 SF, plus approved plans by COE for a 2BD/1BA ADU.
  • BUNGALOW STYLE DESIGN: Each unit offers private entries and outdoor areas, providing tenants the comfort and feel of single family living.
  • ADDITIONAL INCOME POTENTIAL: The back storage space may be rented to tenants for supplemental income or incorporated into the planned ADU.

OVERVIEW

920 W 3rd Street is a fully renovated charming 4-plex with approved plans for a 2-bed/1-bath ADU, delivered mostly vacant in one of Pomona's fastest-growing neighborhoods. 3 of 4 bungalows will be delivered vacant and fully upgraded, featuring new bathrooms, updated kitchens, modern appliances, fresh paint, new flooring, contemporary finishes, storage room, + private yards. The property will include approved ADU plans, allowing an investor to begin construction immediately and add significant value. Once leased, the property will operate at an impressive 6.42% cap rate before even factoring in the ADU. After construction, it projects a 7.08% cap rate and a 10.53 GRM (including build costs), making this an exceptional investment. Whether you're an investor or an owner-user, this 4+1 asset offers immediate strong cash flow, plus the upside of additional equity through ADU development. Prime Location: Minutes from Downtown Pomona's Arts Colony, Western University of Health Sciences, Pomona Valley Hospital, the Metrolink Station, and with direct access to the 10 and 71 freeways. *The sqft reflected represents the ADU conversion.

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$389 USD /SF

# OF UNITS

4

PRICE/UNIT

$262,500

CAP RATE

6.42%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

920 W 3rd Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1938

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,310 SF

ZONING

R-3

APN/PARCEL ID

8342-008-003

ASK ABOUT THIS PROPERTY

Sebastian DiazMarcus & MillichapMore Info
909-827-0687

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Sebastian DiazMarcus & MillichapMore Info
909-827-0687

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.