1031 Friar Lane, Pomona, California 91766, Pomona, 91766 - bed, bath
1031 Friar Lane
Pomona, California 91766
Property Price
SUMMARY
Analysis of 1031 Friar Lane, Pomona, California 91766 is currently available with a list price of $1,199,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Pomona Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1964, this property is 60 years old. While the exterior has been recently painted and is described as 'well-maintained,' the listing explicitly mentions 'below market rents' and a 'value-add opportunity,' strongly implying that the interiors, including kitchens and bathrooms, are outdated and require significant updates to command higher rents. The visible window AC units also suggest older, less efficient cooling systems. Without interior photos, it's difficult to assess specific finishes, but the overall context points to a property that is functional but shows signs of being aged and in need of modernization, fitting the 'Fair' category.
PROSSTRENGTHS & OPPORTUNITIES
- Multi-Unit Investment (Fourplex)
This property is a well-maintained fourplex, offering significantly stronger cash flow potential and stability compared to single-family homes or condos, making it an attractive investment for income generation.
- Value-Add Opportunity
Current monthly rents are explicitly stated as below market, providing a clear and substantial value-add opportunity for a new owner to increase rental income and maximize returns.
- Separate Utility Metering
Each unit is separately metered for electricity and gas, reducing landlord operating expenses and placing utility responsibility directly on tenants.
CONSRISKS & DEFICIENCIES
- Age of Construction
Built in 1964, the property's age suggests potential for aging infrastructure (e.g., plumbing, electrical systems, roofing) that may require significant capital expenditures in the future.
- Shared Water Meter
Despite separate electric and gas meters, there is only one water meter for all four units, meaning the landlord is responsible for the entire water bill, which can be a substantial and increasing operating expense.
- Active Management Required for Upside
While below-market rents offer an opportunity, realizing this potential requires active management, including rent increases, potential tenant turnover, and possibly unit renovations, demanding time, effort, and additional capital from the new owner.
About 1031 Friar Lane
Investment Opportunity! Discover this well-maintained fourplex in the City of Pomona, offering strong rental income and excellent future upside. The front unit, Unit A, is a rare single-story 3-bedroom, 2-bath layout featuring a private backyard, giving tenants a desirable home-like living experience. The property offers significantly stronger cash flow compared to single-family homes or condos, making it an attractive choice for investors seeking both stability and income. Attached to Unit A is a two-story triplex consisting of three additional units. Units B and C are well-designed 2-bedroom, 1-bath units located on the upper level, while Unit D, situated downstairs, offers 2 bedrooms and 1.5 baths. All units benefit from the convenience of onsite parking, including four single-car garages and additional guest parking spaces. The property is separately metered with four electric meters, four gas meters, and one water meter. Tenants also enjoy a fenced front yard, full perimeter wood fencing, and a secure gated entry for added privacy and peace of mind. The exterior of the building was recently painted, making the property clean, attractive, and ready for a new owner to take over. Current monthly rents are below market, providing a great value-add opportunity. The property generates a total monthly gross rent of $6,280, resulting in annual gross income of $75,360.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1964
- Lot Size
- 9,803 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 4,125 | 1,792 | 89% |
| Lot Size | 9,803 | 7,339 | 78% |
| Price | $1.20M | $748.0K | 89% |
| Price per sq ft | $291 | $446 | 11% |
| Built year | 1964 | 1936 | 78% |
| HOA | $0 | $0 | 50% |
| Days on market | 86 | 216 | 33% |
Pricing History
Listed for Sale
Jan 24, 2026
$1,199,000
$1,259,000
-5% Price Drop
Initial Listing
Price Change
Dec 10, 2025
$1,259,000
Initial Listing
Sold
Jun 10, 2022
$1,118,000
Public Record
Sold
Nov 13, 2006
$700,000
Public Record