Renovated Four-Unit
For Sale
$975,000
920 W 3rd St, Pomona, CA 91766
Renovated four-unit bungalow with private entries, upgraded interiors, and approved plans for a delivered ADU.
Property Size1,950 SF
Lot Size0.16 Acres
Price / SF$500
Days on Market151
Property Features for 920 W 3rd St
General Information
Standard status
Active
Size
1,950 SF
Lot size
0.16 Acres
Property subtype
Multifamily
Occupancy
25%
Additional Details
Cap Rate
6.6%
Highway Access
Yes
Multifamily Units
4
Amenities
private yard areas
non-site storage room
3 UNITS DELIVERED VACANT: Three units will be delivered fully remodeled, vacant, and rent ready at close of escrow, allowing for immediate market lease up and strong day one income potential.
ATTRACTIVE PRICING WITH STRONG RETURNS: Offered at $975,000, and based on projected rents the property delivers a 7.00 percent cap rate with strong income and upside.
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/2BA ADU increasing total rentable area to 2,699 SF.
Building Details
Year Renovated
2023
Stories
1
Units
4
Construction
bungalow
Listing Agency:
Marcus & Millichap
(213) 943-1839
Listed By:
Sebastian Diaz · License #License(s): CA: 02109872
(213) 943-1839
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 7
Last Checked: Aug 30 at 12:52PM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Offered for sale, 920 W 3rd Street is a renovated four-unit bungalow property featuring private entries and separation between units. The existing unit mix includes three one-bedroom, one-bath units and one two-bedroom, one-bath unit. Three of the four units will be delivered vacant and fully upgraded with new bathrooms, updated kitchens, modern appliances, fresh paint, new flooring, and contemporary finishes, along with private yard areas. The property also includes a non-site storage room that may be leased for additional income.
The purchase includes approved plans for a 2-bedroom, 1-bath ADU delivered at the close of escrow, with RTI plans for immediate construction. Upon completion, total rentable space will increase beyond the current configuration. With roughly 75 percent of units delivered vacant, the property provides flexibility to lease upgraded units while the ADU is completed.
Situated in Pomona, the location is described as minutes from Downtown Pomona’s Arts Colony, Western University of Health Sciences, Pomona Valley Hospital, and the Metrolink Station, with direct access to the 10 and 71 freeways.
The purchase includes approved plans for a 2-bedroom, 1-bath ADU delivered at the close of escrow, with RTI plans for immediate construction. Upon completion, total rentable space will increase beyond the current configuration. With roughly 75 percent of units delivered vacant, the property provides flexibility to lease upgraded units while the ADU is completed.
Situated in Pomona, the location is described as minutes from Downtown Pomona’s Arts Colony, Western University of Health Sciences, Pomona Valley Hospital, and the Metrolink Station, with direct access to the 10 and 71 freeways.
Key Highlights
- Renovated four‑unit bungalow property in Pomona with three 1BD/1BA units and one 2BD/1BA unit (1,950 SF rentable).
- Three units will be delivered vacant and fully upgraded with new bathrooms, updated kitchens, modern appliances, fresh paint, and new flooring.
- Approved plans for a 2BD/1BA ADU to be delivered at close of escrow; total rentable space increases to 2,699 SF on a 6,784 SF lot.
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
$32,850
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
3.37%
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%
$657,000
$657.0K
Cap Rate 7%
$469,286
$469.3K
Cap Rate 9%
$365,000
$365.0K
Market Conditions
NOI Build-Up for 1,950 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
$49.1K $25.20/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$46.9K $24.07/SF
− OpEx
−$14.1K −$7.22/SF
NOI
$32.9K $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%
$657,000
Cap Rate 7%
$469,286
Cap Rate 9%
$365,000
Alternative Uses
Best Use
Multifamily LT 5
$469.3K
$410.6K – $547.5K
NOI $32,850 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$431.5K
$377.6K – $503.5K
NOI $30,207 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$625.2K
$547.1K – $729.5K
NOI $43,767 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
25%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,589
Businesses Nearby
Explore this area
Business Placement
Demographics for 91766, CA
70,701
Population
20,217
Households
3.5
Avg Household Size
34
Median Age
20%
College-Educated
71%
High-School Grad
10.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$77,699
Median Household Income
$34,705
Median Earnings
$1,776
Median Rent
$568,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Renovated four-unit bungalow with private entries, upgraded interiors, and approved plans for a delivered ADU.
Where is this quadplex located?
The property is located at 920 W 3rd St Pomona, CA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Renovated four‑unit bungalow property in Pomona with three 1BD/1BA units and one 2BD/1BA unit (1,950 SF rentable).; Three units will be delivered vacant and fully upgraded with new bathrooms, updated kitchens, modern appliances, fresh paint, and new flooring.; Approved plans for a 2BD/1BA ADU to be delivered at close of escrow; total rentable space increases to 2,699 SF on a 6,784 SF lot.
