702 N Garey, Pomona, California 91767, Pomona, 91767 - 0 bed, 0 bath
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702 N Garey
Pomona, California 91767
ACTIVE
CONDITION: GOOD
0Beds
0Baths
6,202Sq Ft
12,335Lot Size
Property Price
LIST PRICE$2,180,000
SUMMARY
Analysis of 702 N Garey, Pomona, California 91767 is currently available with a list price of $2,180,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. 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
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
While the property dates back to 1948, it features a newly constructed unit with an excellent modern kitchen (shaker cabinets, stainless steel appliances) and updated bathrooms. The overall structure appears well-maintained and functional as a mixed-use income property, though the age of the remaining units and systems likely requires ongoing maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- Value-Add Potential
The property offers significant upside through a newly constructed unit ready for lease and the potential to convert the existing carport into two ADUs, subject to city approval.
- Development Upside
Situated on a 12,335 SF lot, the site presents a rare opportunity for developers to potentially increase density up to 23 units, maximizing the land's long-term value.
- Diversified Income Stream
The mixed-use configuration of 8 residential and 3 commercial units provides a balanced revenue model with a strong history of long-term tenancy and an estimated 5% cap rate.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
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.
- Aging Infrastructure
Built in 1948, the property may require higher ongoing maintenance costs or significant capital expenditures for modernization compared to newer assets.
- Regulatory Uncertainty
The projected development density and ADU conversions are subject to City of Pomona approvals, requiring the buyer to undertake extensive and potentially costly due diligence.
About 702 N Garey
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.
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1948
- Lot Size
- 12,335 Sq. Ft.
Interior
- Total Bedrooms
- 0
- 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 |
|---|---|---|
| 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 | 86 | 22 |
Pricing History
Listed for Sale
Jun 15, 2026
$2,180,000
Initial Listing
Sold
Jan 18, 2017
$1,035,000
Public Record
Sold
Apr 25, 2014
$1,375,000
Public Record
Sold
Jul 28, 1998
$177,000
Public Record