2085 Towne AvePomona, CA 91766

Property Details for 2085 Towne Ave

Year built

1967

Construction

TILT-UP CONCRETE

Lot size

0.40 AC

Property size (Sq ft)

2,610 SF

Zone code

POC2*

Property type

Office properties

Property subtype

Office buildings

APN

8362-006-028

APU

8362006028

Description

This exceptional 26,262 square foot corner lot presents a remarkable investment opportunity in Pomona, California. Located at 2085 S Towne Ave, this vacant, flat lot is zoned POC4*, offering significant development potential. The property's convenient location in Los Angeles County, zip code 91766, provides easy access to major transportation routes and amenities. Preliminary plans exist for a 3-story, 47-unit, 100% affordable multifamily project, showcasing the site's viability for substantial residential development. However, the flexible zoning allows for alternative uses, with the possibility of developing a multifamily project with up to 87 units. The absence of existing structures eliminates demolition costs and tenant relocation challenges, streamlining the development process. This property is offered at an asking price of $1,050,000 and boasts the APN 8331-004-047. Its size and zoning make it ideal for a variety of commercial and residential projects, presenting a compelling opportunity for investors seeking significant returns. The property's flat terrain further simplifies construction, reducing potential development complexities and costs. This is a rare chance to acquire a large, well-located, and versatile parcel in a growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $650,058

  6.5%

  $600,053

  7%

  $557,192

• Comparable approach

  Method

  Valuation

  Relative Method

  $442,527

  Geo Method

  $504,738

• Alternative Use

  Use

  Valuation

  Residential

  $744,066

  Hospitality

  $681,560

  Educational

  $567,050

  Medical

  $586,552

  Retail

  $882,078

Location Insight

City

Pomona

County

Los Angeles

State

California

Latitude

34.0799

Longitude

-117.741

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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