1390 Prospect, Pomona, CA 91766
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Margaret DeLao

Margaret DeLao

+1(858) 229-8016
$1,675,000
Est. payment /mo
2 Beds
1 Bath
1,455 SqFt
Save

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 1,455 sqft

Price per Sqft $1,151

MLS Listing ID CV26119618

Style Traditional

Bedrooms 2

Full Baths 1

Year Built 1927

Lot Size 2.024 Acres

Property Sub-Type Detached

Property Description

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

Location

State CA

County Los Angeles

Direction East of the 71 Freeway. Cross Street is Phillips Blvd.

Interior

Interior Features Attic Fan

Heating Forced Air Unit

Cooling Central Forced Air, Gas, Wall/Window

Flooring Wood

Fireplace No

Appliance Gas Oven, Gas Range

Exterior

Fence Chain Link, Wood

Pool Below Ground, Private

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected

View Y/N Yes

Water Access Desc Public

View City Lights, Mountains/Hills, Neighborhood, Valley/Canyon

Roof Type Composition

Building

Story 1

Sewer Public Sewer

Water Public

Level or Stories 1

Others

Senior Community No

Tax ID 8343018022

Acceptable Financing Cash, Cash To New Loan, Conventional, FHA, Submit

Listing Terms Cash, Cash To New Loan, Conventional, FHA, Submit

Special Listing Condition Standard

Read Less Info
MLS Router / San Diego MLS
Listed by Albert Rodriguez, DRE#01250095 CENTURY 21 CITRUS REALTY INC 

Nearby Locations

GET MORE INFORMATION

Margaret DeLao

Margaret DeLao

+1(858) 229-8016

Realtor | License ID: 01377428

Realtor License ID: 01377428

Name

Name

Phone*

Phone

Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Margaret DeLao, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.