1406 Prospect, Pomona, CA 91766
1406 Prospect, Pomona, CA 91766
1406 Prospect, Pomona, CA 91766
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Paul Swack

Paul Swack

+1(805) 441-4281
$1,475,000
Est. payment /mo
0.94 Acres Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV26119739

Construction Status Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 1926

Lot Size 0.940 Acres

Property Sub-Type Triplex

Property Description

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

Rooms

Other Rooms Storage

Interior

Heating Central

Cooling Central Air, Wall/Window Unit(s)

Flooring Wood

Fireplace No

Laundry Common Area, Inside

Exterior

Parking Features Assigned, Boat, Concrete, Driveway, On Site, Oversized, Deck, RV Potential, Workshop in Garage

Garage Spaces 1.0

Carport Spaces 1

Garage Description 1.0

Pool None

Community Features Biking, Foothills, Golf, Hiking, Park, Street Lights, Valley

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected

Roof Type Composition

Total Parking Spaces 14

Private Pool No

Building

Lot Description Front Yard, Gentle Sloping

Story 1

Sewer Public Sewer

Water Public

Architectural Style Traditional

Additional Building Storage

New Construction No

Construction Status Updated/Remodeled,Turnkey

Others

Senior Community No

Tax ID 8343018008

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan, Submit

Listing Terms Cash, Cash to New Loan, Submit

Special Listing Condition Standard

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Listed by Albert Rodriguez CENTURY 21 CITRUS REALTY INC 626-255-4854, DRE #01250095

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Paul Swack

Paul Swack

Team Leader I Broker Associate | License ID: 02032510

+1(805) 441-4281

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1406 Prospect