1253 Agate, Mentone, CA 92359
- $1,300,000
- 5
- BD
- 3
- BA
- 2,334
- SqFt
- List Price
- $1,300,000
- Price Change
- ▼ $100,000 1784152833
- Status
- ACTIVE
- MLS#
- IV26139697
- Year Built
- 1946
- Bedrooms
- 5
- Bathrooms
- 3
- Living Sq. Ft
- 2,334
- Lot Size
- 55,044
- Acres
- 1.26
- Lot Location
- Value In Land
- Days on Market
- 31
- Property Type
- Single Family Residential
- Property Sub Type
- Single Family Residence
- Stories
- One Level
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 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.
Additional Information
- Pool Description
- None
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- View
- None
- Garage Spaces Total
- 4
- Sewer
- Septic Type Unknown
- Water
- Public
- School District
- Redlands Unified
- Interior Features
- All Bedrooms Down
- Attached Structure
- Detached
- Number Of Units Total
- 2
Listing courtesy of Listing Agent: JERRY AVILA (jerryavila@allnationsontario.com) from Listing Office: ALL NATIONS REALTY & INVS.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.