Updated Triplex with Rental
New
For Sale
$895,000
2238 Nelson St, Pomona, CA 91766
Remodeled front residence with two leased rear units and an attached garage.
Property Size2,479 SF
Days on Market4
Property Features for 2238 Nelson St
General Information
Standard status
Active
Size
2,479 SF
Total Parking Spaces
2
Property subtype
Investment
Additional Details
Multifamily Units
3
Building Details
Building Size
2,479 SF
Year Built
1979
Stories
1
Units
3
Listing Agency:
BHHS California Properties
Listed By:
Giusy Mele-Brown · License #01252230
(626) 695-2312
Source:
Elliman
Added: Sep 15
Last Checked: Sep 16 at 3:52PM
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 BHHS California Properties
Investment Insights
Based on property information with market context.
This triplex combines a freestanding front residence with two separate rear apartments. The primary home has been refreshed with an updated kitchen featuring white cabinetry, new countertops, recessed lighting, and new flooring. Remodeled bathrooms, fresh interior paint, new closet doors, and additional flooring improvements continue throughout the residence. Direct access connects the home to an attached two-car garage, while the front yard provides outdoor space and separation from the street.
Each rear unit contains one bedroom and one bathroom, and both are currently rented. The property was built in 1979 and is located at 2238 Nelson St in Pomona, California. The configuration supports a front-home and rental-unit arrangement with existing occupancy in the rear residences.
Each rear unit contains one bedroom and one bathroom, and both are currently rented. The property was built in 1979 and is located at 2238 Nelson St in Pomona, California. The configuration supports a front-home and rental-unit arrangement with existing occupancy in the rear residences.
Key Highlights
- Three‑unit property with a freestanding front residence and two separate rear units
- Front home recently remodeled with updated kitchen and bathrooms
- Two rear units, each with 1 bedroom and 1 bathroom, are currently rented
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
$41,762
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
4.67%
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%
$835,240
$835.2K
Cap Rate 7%
$596,600
$596.6K
Cap Rate 9%
$464,022
$464.0K
Market Conditions
NOI Build-Up for 2,479 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
$62.5K $25.20/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$59.7K $24.07/SF
− OpEx
−$17.9K −$7.22/SF
NOI
$41.8K $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%
$835,240
Cap Rate 7%
$596,600
Cap Rate 9%
$464,022
Alternative Uses
Best Use
Multifamily LT 5
$596.6K
$522.0K – $696.0K
NOI $41,762 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$548.6K
$480.0K – $640.0K
NOI $38,402 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$794.9K
$695.5K – $927.4K
NOI $55,641 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
577
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Remodeled front residence with two leased rear units and an attached garage.
Where is this triplex located?
The property is located at 2238 Nelson St Pomona, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Three‑unit property with a freestanding front residence and two separate rear units; Front home recently remodeled with updated kitchen and bathrooms; Two rear units, each with 1 bedroom and 1 bathroom, are currently rented
