Property Details


Price / SqFt: $34
Square Feet: 146,928
Zoning: Pomona Corridors Specific Plan City Gateway Segment

Executive Summary


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  • 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

Area Overview

The City of Pomona was incorporated as a city in 1888 and became a charter city in 1911. Today, Pomona is the seventh largest city in Los Angeles County, with a population of over 151,000 residents. Pomona boasts a progressive economy, business opportunity, and a strong workforce with attractive shopping, recreational, and real estate offerings. The Pomona Unified School District provides a well-rounded and challenging educational program of the highest quality, empowering students to lead productive, fulfilling lives as lifelong learners. Supported on a foundation of integrity and respect, students will gain academic excellence and take personal and community pride as responsible citizens and productive participants in a diverse society and global economy.

Economy

The city of Pomona economy revolves around four key sectors that employ tens of thousands and infuse millions of dollars into the local economy on an annual basis in the form of revenue and salaries of workers: education, health care, wholesale trade, and manufacturing. In addition, the city’s thriving arts and entertainment industries have established Pomona as a premier cultural venue. Numerous concerts at venues throughout the City as well as the monthly Art Walk in Downtown Pomona highlight the importance that the arts hold in the community.

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