Investor Oppportunity | 4 Parcel Development Site | 1031 Exchange Candidate.
INVESTOR OPPORTUNITY | 4-PARCEL DEVELOPMENT SITE | 1031 EXCHANGE CANDIDATE. 1253 & 1255 Agate Ave, Mentone CA 92359. APN: 0298-181 Series. Listed at $1,400,000.
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%. All figures illustrative — buyer to verify independently.
Zoning: RS | San Bernardino County (unincorporated). 132 ft × 417 ft total. 112 ft × 417 ft buildable.
May qualify as like-kind replacement property under IRC Section 1031. Consult qualified intermediary and tax advisor. Seller makes no representations regarding tax treatment.