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Single Family Residence

1390 Prospect

$1,675,000

Offered at

Pomona, CA 91766

Los Angeles County

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Beds

Baths

1,455

Sq Ft

88,183

Lot Sq Ft

1927

Year Built

Pool

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… 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.

Facts & Features

Interior

Bedrooms & bathrooms

Bedrooms: 2
Bathrooms: 1
Full bathrooms: 1

Cooling

Cooling: Central Air, Gas, Wall Window Units, Attic Fan

Appliances

Included: Gas Oven, Gas Range
Laundry: Inside

Features

Flooring: Wood
Has fireplace: No

Interior area

Total interior livable area: 1,455 sqft

Property

Parking

Total spaces: 0
Parking features: Boat, Driveway, Rv Potential
Garage spaces: 0

Features

Stories: 1
Patio & porch: Front Porch
Has private pool: Yes
Pool features: In Ground, Private
Fencing: Chain Link, Wood
Has view: Yes
View features: City Lights, Hills, Mountains, Neighborhood, Valley

Lot

Size: 2.02 Acres
Features: Zero To One Unit Acre, Front Yard, Value In Land, Yard

Details

Parcel number: 8343018022

Construction

Type & style

Home type: Residential
Architectural style: Traditional
Property subtype: Single Family Residence

Materials

Stucco
Roof: Composition

Condition

Year built: 1927

Location

Mike Zwarg

Broker / Owner

951.528.0626
mike@mzhomes.us

Listing Office: CENTURY 21 CITRUS REALTY INC · Listing Agent: Albert Rodriguez · 626-255-4854 · CRMLS

The property listing information on this website comes in part from the California Regional Multiple Listing Service (CRMLS) via Internet Data Exchange (IDX). Information is deemed reliable but is not guaranteed accurate by the MLS, and all properties are subject to prior sale, change, or withdrawal. This data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than identifying properties consumers may be interested in purchasing. Buyers should independently verify all information, including square footage, lot size, schools, and property condition.

1390 Prospect

Facts & Features

Location

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