1253 Agate, Mentone, CA 92359
List Price: $1.4M
Listing Status: Active
0Days on Market: 0
5 Bedrooms · 3 Bathrooms · 1,156 sq ft
Property Type: Residential
Year Built: 1946
Lot Size: 55,044 sq ft
Garage Spaces: 4
Private Pool: Yes
MLS Number: IV26139697
About This Property
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.
Listing provided by: JERRY AVILA DRE #01354211 909-391-1511 jerryavila@allnationsontario.com, ALL NATIONS REALTY & INVS
Source: CRMLS, MLS #: IV26139697
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