702 N Garey, Pomona, California 91767, Pomona, 91767 - 0 bed, 0 bath
Loading property details...
Pomona, California 91767
Analysis of 702 N Garey, Pomona, California 91767 is currently available with a list price of $2,180,000. 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.
Property is moderate renovation needed.
Built in 1948, this 76-year-old mixed-use property is well beyond the 20-year threshold for 'Fair' condition. While the listing mentions one newly constructed unit, the exterior shows dated windows, aged stucco, and older utility configurations. The overall complex appears functional and income-generating but requires modernization of kitchens, baths, and systems across the remaining 10 units to meet current market standards.
This mixed-use asset features 8 residential and 3 commercial units, providing a balanced and stable revenue stream with a proven long-term rental history.
The property offers multiple growth avenues, including the conversion of carports into two ADUs and the potential to redevelop the site into a higher-density 23-unit complex.
With a newly constructed unit ready for lease-up and an estimated 5% cap rate, the property provides immediate cash flow improvement potential for the incoming investor.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =12335, other record lot size in square feet = 5403. Living area discrepancy between mls listing and other public or private record. mls listing living area = 6202, other record living area = 4148.
Built in 1948, the property may require significant ongoing maintenance or capital expenditures to modernize systems and maintain its competitive appeal.
The projected development density and ADU conversions are subject to city approvals, and all financial data requires rigorous independent verification by the buyer.
A rare opportunity to own an 11-unit mixed-use income property in Pomona consisting of 8 apartment units and 3 commercial units situated on two adjacent parcels totaling approximately 12,335 SF. The property features a strong rental history with long-term tenants and includes a newly constructed unit ready for lease-up. Based on the owner's provided financial information, the property offers an estimated 5% capitalization rate; buyers are advised to independently verify all income, expenses, and financial information. Additionally, the existing carport may offer the potential to be converted into two Accessory Dwelling Units (ADUs), subject to City approvals and applicable regulations, creating further value-add opportunities. The site may also offer the potential to develop up to 23 units (buyer to verify with the City of Pomona regarding zoning, density, and development requirements). Ideal for investors, developers, and owner-users looking to benefit from existing income with future growth potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 6,202 | - |
| Lot Size | 12,335 | - |
| Price | $2.18M | $468.0K |
| Price per sq ft | $351 | $520 |
| Built year | 1948 | 0 |
| HOA | $0 | $0 |
| Days on market | 37 | 22 |
Jun 15, 2026
$2,180,000
Initial Listing
Jan 18, 2017
$1,035,000
Public Record
Apr 25, 2014
$1,375,000
Public Record
Jul 28, 1998
$177,000
Public Record