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About the Listing ESPR - IAVILJER
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 Highlights
Status
Active
Days on Site
9
Property Type
Residential
MLS ®
IV26139697
Year Built
1946
Total Square Footage
2,334
Lot/Acreage
1.26
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances:
- Air Cond: Central Air
- Heating: Central
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: All Bedrooms Down
- Water: Public
Exterior Details
- Lot Description: Value In Land,No Land Lease
- Garage Capacity: 4 car
- Parking Spaces: 4
- Roof:
- Others: 2+ Total Units,Has ADU
- Sewer: Septic Type Unknown
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 0298181200000
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
1253 Agate Mentone, CA 92359
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