Pomona Triplex: Remodeled
For Sale
$1,149,888
291 W Artesia St, Pomona, CA 91768
Triplex in Pomona with remodeled units and strong income potential.
Property Size2,540 SF
Days on Market115
Property Features for 291 W Artesia St
General Information
Standard status
Active
Size
2,540 SF
Property subtype
Investment
Building Details
Building Size
2,540 SF
Year Built
1959
Stories
1
Units
3
Listing Agency:
Listed By:
Zahra Almahayni
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Jul 16 at 6:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Zahra Almahayni
Investment Insights
Based on property information with market context.
This triplex, zoned for multifamily use, presents an investment opportunity in Pomona. The property consists of three units, two of which have been fully remodeled. Exterior improvements include fresh paint and updated landscaping. Each unit is equipped with separate gas and electric meters and includes an assigned one-car garage. Unit #291 features 2 bedrooms and 2 bathrooms, along with a private front patio. Units #293 and #295 each offer 2 bedrooms and 1 bathroom, front patios, and backyards. Both #293 and #295 have been fully remodeled. The property is situated in a quiet residential neighborhood, providing convenient access to the 10 Freeway and proximity to the Fairplex (LA County Fairgrounds). Additional nearby landmarks include Pomona Valley Hospital, Brackett Field Airport, Sheraton Hotel, Cal Poly Pomona, Western University, Mt. SAC, and Pomona College. The property is priced with a 4.2% cap rate based on the current annual income of $75,600. Local market rents suggest a potential pro forma income of approximately $91,200 per year, equating to a cap rate of around 5.6%. The estimated expense ratio is approximately 35%. The location has a walk score of 94, indicating it is a Walker's Paradise. The bike score is 53, making it bikeable, and the transit score is 52, indicating good transit options. This property is suitable for investors or owner-users seeking an income-producing property in a convenient location.
Key Highlights
- Strong income potential: Current 4.2% cap rate ($75,600/year) with potential to increase to ~5.6% ($91,200/year) based on market rents.
- Triplex zoning: Offers three separate units for diverse income streams or owner‑user opportunity.
- Two units fully remodeled: Reduces immediate renovation costs and attracts higher‑quality tenants.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,789
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$855,780
$855.8K
Cap Rate 7%
$611,271
$611.3K
Cap Rate 9%
$475,433
$475.4K
Market Conditions
NOI Build-Up for 2,540 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$64.0K $25.20/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$61.1K $24.07/SF
− OpEx
−$18.3K −$7.22/SF
NOI
$42.8K $16.85/SF
Area
Pomona, CA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$855,780
Cap Rate 7%
$611,271
Cap Rate 9%
$475,433
Alternative Uses
Best Use
Multifamily LT 5
$611.3K
$534.9K – $713.2K
NOI $42,789 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$562.1K
$491.8K – $655.8K
NOI $39,347 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$814.4K
$712.6K – $950.2K
NOI $57,010 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,299
Businesses Nearby
Explore this area
Business Placement
Demographics for 91768, CA
35,568
Population
8,848
Households
4
Avg Household Size
31
Median Age
14%
College-Educated
70%
High-School Grad
8.2 sq mi
ZIP Area
4,338
Density / Sq Mi
$76,313
Median Household Income
$32,461
Median Earnings
$1,606
Median Rent
$536,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Triplex in Pomona with remodeled units and strong income potential.
Where is this triplex located?
The property is located at 291 W Artesia St Pomona, CA.
What is the asking price?
The asking price for this property is $1,149,888.
What are key features of this property?
This property features: Strong income potential: Current 4.2% cap rate ($75,600/year) with potential to increase to ~5.6% ($91,200/year) based on market rents.; Triplex zoning: Offers three separate units for diverse income streams or owner‑user opportunity.; Two units fully remodeled: Reduces immediate renovation costs and attracts higher‑quality tenants.
