Historic Multifamily
For Sale
$998,888
695 N Main, Pomona, CA 91768
Built in 1903 and currently operated as student housing near several educational and commercial destinations.
Property Size2,900 SF
Lot Size0.21 Acres
Price / SF$344.44
Days on Market91
Property Features for 695 N Main
General Information
Standard status
Active
Size
2,900 SF
Lot size
0.21 Acres
Property subtype
Investment
Additional Details
Highway Access
Yes
Building Details
Building Size
2,900 SF
Year Built
1903
Units
1
Listing Agency:
The R.R. Network
Listed By:
Hercules Goes · License #01990906
Source:
Elliman
Added: Jun 1
Changed: Aug 29
Last Checked: Jun 5 at 6:15AM
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 The R.R. Network
Investment Insights
Based on property information with market context.
This multifamily property occupies a corner lot in Pomona’s Historic District and is currently operated as student housing. The approximately 2,900-square-foot property was built in 1903 and sits on a 9,145-square-foot parcel. The existing use provides a defined residential-income configuration, while property details, zoning, and current use remain subject to buyer verification.
The property is near Cal Poly Pomona, the Claremont Colleges, Downtown Pomona, shopping, dining, and major freeways. Zoning is identified as Public Rec. Occupants are not to be disturbed.
The property is near Cal Poly Pomona, the Claremont Colleges, Downtown Pomona, shopping, dining, and major freeways. Zoning is identified as Public Rec. Occupants are not to be disturbed.
Key Highlights
- Approximately 2,900 sq. ft. property on a 9,145 sq. ft. corner lot
- Currently operated as student housing
- Built in 1903
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
$44,923
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
4.50%
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%
$898,460
$898.5K
Cap Rate 7%
$641,757
$641.8K
Cap Rate 9%
$499,144
$499.1K
Market Conditions
NOI Build-Up for 2,900 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
$85.3K $29.40/SF
− Vacancy
−$3.6K −$1.23/SF
EGI
$81.7K $28.17/SF
− OpEx
−$36.8K −$12.67/SF
NOI
$44.9K $15.49/SF
Area
Pomona, CA
Vacancy
4.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$898,460
Cap Rate 7%
$641,757
Cap Rate 9%
$499,144
Alternative Uses
Best Use
Apartment 5plus
$641.8K
$561.5K – $748.7K
NOI $44,923 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$929.9K
$813.6K – $1.08M
NOI $65,090 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,451
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1903 and currently operated as student housing near several educational and commercial destinations.
Where is this multifamily property located?
The property is located at 695 N Main Pomona, CA.
What is the asking price?
The asking price for this property is $998,888.
What are key features of this property?
This property features: Approximately 2,900 sq. ft. property on a 9,145 sq. ft. corner lot; Currently operated as student housing; Built in 1903
