416 N Garey Ave - Apartments FOR SALE


Pomona, CA 91767
$2,950,000 USD
949-248-5846
416 N Garey Ave, Pomona, CA for Sale
$2,950,000 USD
Apartments - FOR SALE
1/1
null | 8.5% Cap Rate

416 N Garey Ave
Pomona, CA 91767


OVERVIEW

Prime Mixed use project in final stages for TTM approval for 64 units and 4,000 sq ft commercial on Garey ave with 28,000 ++ cars a day traffic count in an Opportunity zone in near Historic-downtown Pomona with an easy walk to central transit hub along with all downtown /city hall amenities along with the local artisan museums, medical school. See attached proforma and elevations as numbers show with 2024 rents the project has the ability after buildout to stabilization the builder/investor should have a new property with a 8.5% cap rate and if held for 10 years from close of escrow and owner meets all opportunity requirements then a potential of all profit federal tax free ( buyer to verify with their tax/legal consultants). Rents are mid range market $2350-$2450 for 1 bed/1bath and 2bd/2bath-$2850-$3100 monthly and commercial has a list forming.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$45 USD /SF

# OF UNITS

61

PRICE/UNIT

$48,361

CAP RATE

8.5%

% LEASED

-

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,702 SF

ZONING

C4, Pomona

APN/PARCEL ID

8336-021-027

ASK ABOUT THIS PROPERTY

Mario PinedoMuller Commercial Real EstateMore Info
949-248-5846

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Mario PinedoMuller Commercial Real EstateMore Info
949-248-5846

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.