1390 Prospect, Pomona, CA 91766
- $1,675,000
- 2
- BD
- 1
- BA
- 1,455
- SqFt
- List Price
- $1,675,000
- Status
- ACTIVE
- MLS#
- CV26119618
- Year Built
- 1927
- Bedrooms
- 2
- Bathrooms
- 1
- Living Sq. Ft
- 1,455
- Lot Size
- 88,182
- Acres
- 2.02
- Lot Location
- 0-1 Unit/Acre, Front Yard, Value In Land, Yard
- Days on Market
- 46
- Property Type
- Single Family Residential
- Style
- Traditional
- Property Sub Type
- Single Family Residence
- Stories
- One Level
Property Description
Welcome to 1390 Prospect Drive, an 88,182 Square foot parcel! (2.2 Acres) featuring a fully renovated single family home and studio guest house with a view and pool currently generating $5,000 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 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 plans. $100,000 plus in recent capital improvements, new interior, exterior paint, cabinets, electrical, plumbing and windows.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.
Additional Information
- Appliances
- Gas Oven, Gas Range
- Pool
- Yes
- Pool Description
- In Ground, Private
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air, Gas, Wall/Window Unit(s), Attic Fan
- View
- City Lights, Hills, Mountain(s), Neighborhood, Valley
- Exterior Construction
- Stucco
- Patio
- Front Porch
- Roof
- Composition
- Sewer
- Public Sewer
- Water
- Public
- School District
- Pomona Unified
- Interior Features
- Breakfast Bar, Separate/Formal Dining Room, Eat-in Kitchen, All Bedrooms Down, Attic, Main Level Primary
- Attached Structure
- Detached
- Number Of Units Total
- 1
Listing courtesy of Listing Agent: Albert Rodriguez (albert@c21citrus.com) from Listing Office: CENTURY 21 CITRUS REALTY INC.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.