Description
Welcome to 1402,1404 & 1406 Prospect Drive, a 40,939 Square foot parcel! Almost 1 acre!! This parcel features 3 houses on a lot which consist of a fully remodeled single-family home with 2 bds and 1 bath @$2,750mo: A 2bdrm 1 ba w/ 1 car garage @ $2,700 mo: And a 1 bd, 1 bath @ $1,800 mo. Three separate houses with a view! Currently generating at total $7,250 mo. per month in rental income. Most buyers evaluate this property with the in-place income. The property offers significant development potential to build up to 20 units with plenty of parking. However, to simplify requirements per the city it would be more economical to streamline and build 10-15 units at approximately 750 Square Ft or less. The property has 3 additional concrete areas for parking. 1 area is a 5000SF+-, 2nd area is 4000SF+- and the 3rd area is 3000SF+-. The potential of building 10- 15 additional 2 bd, 1 1/2 bath units would potentially create an opportunity for returns exceeding a 20% CAP Rate! You can collect rents while you work on your development and entitlement plans. $200,000 plus in recent capital improvements, new interior, exterior paint, flooring, cabinets, electrical, plumbing and windows. Lot lines in photos are approximate. Please review supplements. Buyers to verify all development possibilities and aspects with the City of Pomona.
Details
| MLS # | CV26119739 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1926 |
| Days On Site | 102 |
| Listing Provided By | CENTURY 21 CITRUS REALTY INC | Albert Rodriguez |
Features
| SQ Feet | 2,040 |
|---|---|
| Garage | 1 |
| Car Port | Yes |
| Story(s) | 1 |
| Units | 3 |
| Building(s) | 3 |
| Acreage | 0.94 |
| Golf Course | Yes |
Interior
| Cooling | Central Air, Wall Window Units |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Composition |
|---|---|
| Security Features | Carbon Monoxide Detectors, Smoke Detectors |
| Construction Materials | Frame, Stucco |
| Lot Features | Front Yard, Gentle Sloping |
Parking
| Parking Features | Assigned, Boat, Concrete, Driveway, On Site, Oversized, Deck, Rv Potential, Workshop In Garage |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Utilities | Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Biking, Foothills, Golf, Hiking, Park, Street Lights, Valley |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Pomona |
| Zip Code | 91766 |
| Area | 687 Pomona |
| Listing VS Median (in 91766) | |
Price: $1,475,000 low | high Med: $1,050,000 sqft: 2,040 low | high Med: 3,409 $ / sqft: $723 low | high Med: $313 On site: 102 low | high Med: 67.5 | |
Market Activity 91766
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Pomona |
| Zip Code | 91766 |
| Area | 687 Pomona |
| Listing VS Median (in 91766) | |
Price: $1,475,000 low | high Med: $1,050,000 sqft: 2,040 low | high Med: 3,409 $ / sqft: $723 low | high Med: $313 On site: 102 low | high Med: 67.5 | |