Description

What a great opportunity to own a piece of land in LA County with various options, thanks to this mixed-use lot located in an Opportunity Zone! This fantastic development opportunity is perfect for first-time builders and experienced developers. Zoned under the Pomona Downtown Specific Plan, this lot is ideal for Mixed-Use, Attached Residential, or Commercial projects.

You can build up to multiple stories with a Mixed-Use, High-Density Residential Standard: 80 du/ac maximum, with an additional density bonus of up to 80% for affordable housing. This makes it perfect for affordable university student housing apartments or similar options. Alternatively, build 4 units to keep it within residential financing guidelines. The possibilities on this lot are endless.

Utilities are readily available on the street, and it’s close to several colleges, including Cal Poly Pomona, Western University of Health Sciences, Mt. SAC, and the 5 Claremont Colleges. The property has minimal setbacks (0 feet) and is just 1,000 feet from the Pomona Regional Transit Center.

Starting January 1, 2023, California exempts developers from building parking spaces/structures for buildings within a half-mile of a major transit center, and this property qualifies for that exemption. It’s just 2 blocks from the main Pomona corridor, Holt Ave, and within walking distance to grocery markets, theaters, and restaurants. Plus, it’s conveniently located near the 60, 10, 57, and 71 freeways.

Investors can benefit from significant tax incentives by investing in this Opportunity Zone property, making it a financially and strategically advantageous choice. Don’t miss out on this incredible opportunity to develop in a prime location with so many possibilities!