655 N Mills Ave, Pomona, CA 91767

Property Description

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