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673 E Mckinley Avenue, Pomona, California 91767, Pomona, 91767 - 6 bed, 3 bath

673 E Mckinley Avenue, Pomona, California 91767 home-pic-0
ACTIVE$819,999
673 E Mckinley Avenue, Pomona, California 91767
6Beds
3Baths
2,359Sqft
10,955Lot
Year Built
1952
Close
-
List price
$820K
Original List price
$820K
Price/Sqft
$348
HOA
-
Days on market
-
Sold On
-
MLS number
IV24241669
Home ConditionPoor
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 64% below the list price. We found 3 Cons,6 Pros. Rank: price - $820.0K(83th), sqft - 2359(96th), beds - 6(97th), baths - 3(78th).

Large home that needs a little TLC - could be used as 4 units. Home is currently being used as 2 units - divided into 2 bedrooms and 1 bath each. Seller added 3 more rooms and a bathroom (this added square footage was done with the required permits) Owner also has converted the garage into a another unit. Non permitted. it consists of a bedroom, bathroom, kitchen and another room that could be used as a small living room. Large lot, big back yard with many fruit trees. Property sold in "as is" condition. Buyer and Buyer's agent to do their due diligence in verifying all information regarding the property. Good safe residential area of Pomona, close to all amenities and the 10 fwy. Solar system still being paid. Lease contract.

Condition Rating
Poor
Built in 1952, this property is explicitly listed 'as is' and 'needs a little TLC,' indicating substantial repairs and rehabilitation are required. The non-permitted garage conversion into a unit is a significant defect, posing potential safety and legal issues. While there are permitted additions, the overall condition, particularly for kitchens and bathrooms, is likely very outdated and in need of major renovation, consistent with a property of this age sold in 'as is' condition without mention of recent extensive updates.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10955, living area = 2359.
Multi-Unit Potential & Permitted Expansion: The property offers significant flexibility with its current two-unit setup and the potential for up to four units, with a permitted expansion adding three rooms and a bathroom, providing excellent income-generating opportunities or multi-generational living options.
Large Lot with Fruit Trees: A generous 10,955 sqft lot with a big backyard and many fruit trees enhances outdoor living, privacy, and potential for landscaping or gardening.
Strategic Location: Situated in a 'good safe residential area of Pomona,' the property benefits from proximity to amenities and convenient access to the 10 Freeway, appealing to commuters and those seeking local conveniences.
Existing Solar System: The presence of a solar system, even under a lease, suggests potential for reduced energy costs and a more environmentally friendly footprint.
High Bedroom/Bathroom Count: With 6 bedrooms and 3 bathrooms, the property offers substantial living space, catering to larger families or multiple tenants.

Cons

As-Is Condition & Renovation Needs: The property is explicitly sold 'as is' and 'needs a little TLC,' indicating that a buyer should anticipate significant investment in repairs, upgrades, and cosmetic improvements.
Non-Permitted Garage Conversion: The garage has been converted into a unit without permits, posing a substantial legal and financial risk. The new owner may face enforcement actions, fines, or the cost of bringing it up to code or converting it back.
Solar Lease Obligation: The solar system is under a lease contract that is 'still being paid,' meaning the buyer will inherit a monthly payment obligation rather than enjoying free electricity, which could impact cash flow or require a buyout.

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