931 Towne Ave Pomona, CA 91766-3652
- Apartment buildings
- 2,838 SF
- 0.28 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 931 Towne Ave
- Year built
- 1947
- Construction
- WOOD
- Lot size
- 0.28 lot acres
- Property size
- 2,838 SF
- Zone code
- POR31000*
- Property type
- Apartment buildings
- APN
- 8333-009-014
- APU
- 8333009014
Description
This exceptional 5-unit apartment building presents a compelling investment opportunity in the desirable Pomona, California market. Located at 931 S Towne Ave, this property boasts a strong 4.76% capitalization rate and a substantial net operating income (NOI) of $61,631. Built in 1947, the property sits on a sizable 0.28-acre lot and offers a mix of unit types including one 2-bedroom/1-bathroom unit and four 1-bedroom/1-bathroom units, plus two non-conforming units. Select units include garage parking. The property's prime location offers convenient access to Downtown Pomona (just 0.5 miles away) and is within close proximity to major employers such as Pomona Valley Hospital (2.6 miles) and Cal Poly Pomona (5.6 miles). The property presents significant upside potential in rental income and the large lot size offers the possibility of adding an accessory dwelling unit (ADU), subject to applicable regulations and permits. The asking price for this well-positioned multifamily investment is $1,295,000. This is a rare opportunity to acquire a stable, income-generating asset with considerable growth potential in a thriving Southern California market. Further details are available upon request.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $270,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Pomona
- County
- Los Angeles
- State
- California
- Longitude
- -117.742
- Latitude
- 34.0511
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
