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    695 W Holt Ave

    Pomona, CA 91768
    • $2,245,000
    • STATUS: Active
    • ON SITE: 27 days
    • ID#: OC21142040
    Price Reduced
    UPDATED: 231 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 2021-07-27T16:48:48.38. 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 The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
    www.theparsonsrealestateteam.com/homes/118860620
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    695 W Holt Ave Pomona, CA 91768

    • Price: $2,245,000
    • Status: Active
    • Updated: 231 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 2021-07-27T16:48:48.38. 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 The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
     
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