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Listed by JERRY AVILA, DRE #01354211 • ALL NATIONS REALTY & INVS
$ 1,400,000
Est. payment /mo
Active
1253 Agate Mentone, CA 92359
5 Beds
3 Baths
2,334 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,334 sqft
Price per Sqft $599
MLS Listing ID CRIV26139697
Bedrooms 5
Full Baths 3
Year Built 1946
Lot Size 1.264 Acres
Property Sub-Type Single Family Home
Source California Regional MLS
Property 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
State CA
County San Bernardino
Area 284 - Mentone
Interior
Heating Central Forced Air
Cooling Central AC
Fireplaces Type None
Laundry Other
Exterior
Garage Spaces 4.0
Pool None
View None
Building
Story One Story
Water District - Public
Others
Tax ID 0298181200000
Special Listing Condition Not Applicable
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