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1253 Agate Street

Mentone CA 92359

5
3
4
2334 sq. ft.
55044 sq. ft.
Single-Family
Currently for sale - view listing

Overview

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.

Features

5 bedrooms
3 bathrooms
4 carspaces
4 garage spaces
2334 sq. ft. floor area
55044 sq. ft. lot size
Single-Family

Happy sellers in Mentone

90%
90% of sellers in Mentone reported that their sale price either exceeded or met their price expectations.

Mentone stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 4 reviews in Mentone over the last 12 months.

Local market activity for 5 bedroom single-family properties in Mentone

In the last 12 months, 4 five-bedroom single-family properties similar to 1253 Agate Street, have been sold.

This represents a 34% increase in five-bedroom single-family properties sales when compared to the previous 12 months.

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