UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,455 sqft
Price per Sqft $1,151
MLS Listing ID CV-26119618
Style Traditional
Bedrooms 2
Full Baths 1
Year Built 1927
Lot Size 2.024 Acres
Property Sub-Type Single Family Residence
Source California Regional Multiple Listing Service (CRMLS)
Property Description
$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.
Location
State CA
County Los Angeles
Area 687 - Pomona
Interior
Interior Features Attic Fan, Granite Counters, Remodeled Kitchen, Tile Counters
Heating Central
Cooling Central Air, Gas, Wall/Window Unit(s)
Flooring Wood
Fireplaces Type None
Laundry Inside
Exterior
Parking Features Boat, Driveway
Pool Private, In Ground
Community Features Biking, Foothills, Hiking, Street Lights
Utilities Available Sewer Connected, Electricity Connected, Natural Gas Connected
View Y/N Yes
View City Lights, Hills, Mountain(s), Valley
Building
Lot Description Front Yard, Value In Land, Yard, 0-1 Unit/Acre
Sewer Public Sewer
Nearby Locations
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900