Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

SingleFamilyResidence

Bedrooms

2

Building size

1,455 sqft

Lot size

88,182 sqft

Year built

1927

Stories

1

Garage spaces

0

Style

Traditional

Heating

Central

Cooling

Gas,Central Air,Wall/Window Unit(s)

Pool

In Ground,Private

View

Mountain(s),City Lights,Neighborhood,Hills,Valley

Status

Active

Days on market

25

MLS #

247243398

About this property

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. Please review supplements. Buyers to verify all development possibilities and aspects with the City of Pomona.

Location

1390 Prospect

Pomona, Los Angeles, CA, 91766