| 1253 Agate Mentone CA 92359 | |
| Price | $ 1,300,000 |
| Listing ID | IV26139697 |
| Status | Active |
| Property Type | Single Family Residence |
| County | San Bernardino |
| Beds | 5 |
| Baths | 3 |
| House Size | 2334 |
| Year Built | 1946 |
| Lot Size | 1 |
| Days on website | 38 |
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 of $5,050/mo 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: $228,600/yr. NOI: $152,019/yr. Cap rate: 5.38%. New SFRs projected at $3,000/mo each. ADUs projected at $2,000/mo each. Stabilized total: $19,050/mo across all 8 units. All figures illustrative — buyer to verify independently.
Zoning: RS | San Bernardino County (unincorporated). 132 ft × 417 ft total. 112 ft × 417 ft buildable. Private access corridor included in sale.
May qualify as like-kind replacement property under IRC Section 1031. Consult qualified intermediary and tax advisor. Seller makes no representations regarding tax treatment.
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.
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 of $5,050/mo 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: $228,600/yr. NOI: $152,019/yr. Cap rate: 5.38%. New SFRs projected at $3,000/mo each. ADUs projected at $2,000/mo each. Stabilized total: $19,050/mo across all 8 units. All figures illustrative — buyer to verify independently.
Zoning: RS | San Bernardino County (unincorporated). 132 ft × 417 ft total. 112 ft × 417 ft buildable. Private access corridor included in sale.
May qualify as like-kind replacement property under IRC Section 1031. Consult qualified intermediary and tax advisor. Seller makes no representations regarding tax treatment.
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.
Financial Information
List Price: $ 1300000
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#
