1390 Prospect
Pomona, CA 91766
$1,675,000
- 2 beds
- 1 baths
- 1,455 sq ft
- 2.02 acres
- Built 1927
Listed by CENTURY 21 CITRUS REALTY INC · MLS #CV26119618
Property photos are not available.
A FEW THINGS TO NOTICE
What stands out.
Additional spaces
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.
Year built
Built in 1927.
Property size
2.02 acres listed.
Highlights from the listing description and property details. Confirm features with the listing agent.
THE PROPERTY
Get to know the property.
$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.
THE NEIGHBORHOOD
Explore the location.
1390 Prospect, Pomona, CA 91766
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THE DETAILS
The details, all in one place.
- Property type
- Residential
- Category
- Residential
- Year built
- 1927
- Full baths
- 1
- Garage spaces
- 0
- Cooling
- CentralAir,Gas,WallWindowUnits,AtticFan
- Heating
- Central
- Appliances
- GasOven,GasRange
- Flooring
- Wood
- Utilities
- ElectricityConnected,NaturalGasConnected,SewerConnected
- Fencing
- ChainLink,Wood
- Pool
- Yes
- Pool features
- InGround,Private
- Parcel
- 8343018022
- HOA fee
- $0.00
Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.
OWNERSHIP, WITH A PLAN
Investor outlook.
Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.
ERA PROPERTY MANAGEMENT
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1390 Prospect, Pomona, CA 91766 · MLS #CV26119618
More in Pomona.
$999,999Listing information
MLS #CV26119618 · California Regional MLS
Listing brokerage: CENTURY 21 CITRUS REALTY INC
Listing agent: Albert Rodriguez
Listing status: Active. Record updated . Confirm current availability and price with the listing agent.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright © 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright © 2023 California Regional Multiple Listing Service, Inc. All rights reserved.