655 N Mills Ave, Pomona, CA 91767 | 21-793056 | Vista Sotheby’s International Realty

655 N Mills Ave $4,200,000

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    655 N Mills Ave Pomona, CA 91767

    Sold
    SOLD 5/19/2022

    $4,200,000

    • 3.37 Acres
    • Land
    • MLS# 21-793056
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    Property Details

    Significantly sized parcel totaling 3.37 acres ideal for residential development or an owner user; the site is currently being used as a church and has a large parking lot with a cell phone tower on site. Site falls within the Pomona Corridors Specific Plan City Gateway Segment, with a variety of allowable uses (listed in the marketing package). At the asking price, the property is being offered at a low $34 per square foot. Opportunity for a residential developer to build a substantial townhouse project; ability to potentially build up to 74 townhomes (Buyer to verify due diligence). Unique Opportunity to Acquire a large parcel in a highly visible location. Located on Mills Ave at E. Holt Ave in the City Of Pomona, a central location serving the Inland Empire Job Centers. Located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section 1400Z. The new section 1400Z allows any taxpayer to defer paying tax on capital gains from the sale of property if those gains are timely invested in a Qualified Opportunity Fund (QOF) which, in turn, must invest 90 percent of its assets in businesses located or property used in designated. Six Miles from the Ontario International Airport Exit Off 10 Freeway and Indian Hill Blvd

    Neighborhood

    91767 (Pomona) Demographics

    35 Median Age
    8,974 Population Density (per sq. mile)
    28% College Educated
    $63,283 Estimated Median Income
    7,647 Estimated Total Home Owners
    6,827 Estimated Total Renters
    53% / 47% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    50,493 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $679,000 Median Sales Price
    21 Homes Sold
    45 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- New in Database Source: Multiple Listing Service New Value: $5,000,000 19.05%
        5/19/2022 12:00:00 AM Sold Source: Multiple Listing Service New Value: $4,200,000 5%
        4/18/2022 2:24:22 PM Status Changed Source: Multiple Listing Service New Value: Active Under Contract
        3/8/2022 2:54:46 PM Price Reduced Source: Multiple Listing Service New Value: $4,000,000
        3/8/2022 2:54:46 PM Status Changed Source: Multiple Listing Service New Value: Active


        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.