931 Towne AvePomona, CA 91766

Property Details for 931 Towne Ave

Year built

1947

Construction

WOOD

Lot size

0.28 AC

Property size (Sq ft)

2,838 SF

Zone code

POR31000*

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

8333-009-014

APU

8333009014

Description

This exceptional 5-unit apartment building presents a compelling investment opportunity in the desirable Pomona, California market. Located at 931 S Towne Ave, this property boasts a strong 4.76% capitalization rate and a substantial net operating income (NOI) of $61,631. Built in 1947, the property sits on a sizable 0.28-acre lot and offers a mix of unit types including one 2-bedroom/1-bathroom unit and four 1-bedroom/1-bathroom units, plus two non-conforming units. Select units include garage parking. The property's prime location offers convenient access to Downtown Pomona (just 0.5 miles away) and is within close proximity to major employers such as Pomona Valley Hospital (2.6 miles) and Cal Poly Pomona (5.6 miles). The property presents significant upside potential in rental income and the large lot size offers the possibility of adding an accessory dwelling unit (ADU), subject to applicable regulations and permits. The asking price for this well-positioned multifamily investment is $1,295,000. This is a rare opportunity to acquire a stable, income-generating asset with considerable growth potential in a thriving Southern California market. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $876,487

  6.5%

  $809,065

  7%

  $751,274

• Comparable approach

  Method

  Valuation

  Relative Method

  $745,836

  Geo Method

  $854,222

• Alternative Use

  Use

  Valuation

  Residential

  $809,065

  Hospitality

  $741,099

  Educational

  $616,586

  Medical

  $637,791

  Retail

  $959,133

Location Insight

City

Pomona

County

Los Angeles

State

California

Latitude

34.0511

Longitude

-117.742

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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