Listing Agent: JERRY AVILA Broker/Office: ALL NATIONS REALTY & INVS
1253 Agate Mentone CA 92359
$ 1,400,000
5
| 3
| 1156 Sq Feet
Listing ID
#IV26139697
Status
Active
Property Type
Single Family Residence
County
San Bernardino
Year Built
1946
Lot Size
1
Days on website
2
Description
INVESTOR OPPORTUNITY | 4-PARCEL DEVELOPMENT SITE | 1031 EXCHANGE CANDIDATE. 1253 & 1255 Agate Ave, Mentone CA 92359.
Rare income-producing development opportunity in Mentone's supply-constrained submarket. Two fully remodeled SFRs currently leased at $2,750/mo (3bd/2ba) and $2,300/mo (2bd/1ba) — immediate cash flow from day one.
Site totals 55,044 SF (1.26 acres) including private access corridor. Conceptual plan supports 4 parcels averaging ~11,676 SF each, SFR + ADU per parcel — 8 income-producing units at stabilization. Given site size and depth, a buyer with appropriate development expertise may have the opportunity to achieve 5 or 6 lots. Buyer to verify all development possibilities with San Bernardino County Land Use Services.
Projected stabilized gross income: $221,400/yr. NOI: $147,231/yr. Cap rate: 5.04%.
Zoning: RS | San Bernardino County (unincorporated). 132 ft × 417 ft total. 112 ft × 417 ft buildable.
May qualify as like-kind replacement property for a 1031 Exchange.
Sold as-is. Buyer to verify all zoning and development standards with San Bernardino County prior to close. Conceptual site plan available upon request. Shown by appointment only.
Location
Financial Information
List Price:
$ 1400000
Property Features
Community Features:
Suburban
Heating:
Central
High School District:
Redlands Unified
Laundry Features:
Inside
Levels:
One
Senior Community YN:
false
Structure Type:
House
Water Source:
Public
High School District:
Redlands Unified
Senior Community YN:
false
MLS Area Major:
284 - Mentone
City:
Mentone
Listed By:
JERRY AVILA
ALL NATIONS REALTY & INVS
CA Lic#
CA Lic#