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.
42 days
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602
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36
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Zillow last checked:
Listing updated:
Listed by:
Albert RodriguezDRE #01250095626-255-4854,
CENTURY 21 CITRUS REALTY INC
Source: CRMLS,MLS#: CV26119739Originating MLS: California Regional MLS
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 5
Bathrooms: 3
Heating
Central
Cooling
Central Air, Wall/Window Unit(s)
Appliances
Laundry: Common Area, Inside
Features
Flooring: Wood
Common walls with other units/homes: 1 Common Wall
Interior area
Total structure area: 2,040
Total interior livable area: 2,040 sqft
Property
Parking
Total spaces: 14
Parking features: Assigned, Boat, Concrete, Driveway, On Site, Oversized, Deck, RV Potential, Workshop in Garage
Garage spaces: 1
Carport spaces: 1
Covered spaces: 2
Uncovered spaces: 12
Features
Entry location: 1
Pool features: None
Lot
Size: 0.94 Acres
Features: Front Yard, Gentle Sloping
Details
Additional structures: Storage
Parcel number: 8343018008
Special conditions: Standard
Construction
Type & style
Home type: MultiFamily
Architectural style: Traditional
Property subtype: Triplex
Attached to another structure: Yes
Materials
Frame, Stucco
Roof: Composition
Condition
Updated/Remodeled,Turnkey
New construction: No
Year built: 1926
Utilities & green energy
Sewer: Public Sewer
Water: Public
Utilities for property: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected
Community & HOA
Community
Features: Biking, Foothills, Golf, Hiking, Park, Street Lights, Valley
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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