| Notes: |
Prime Development & Investment Opportunity – 705 Pomello Drive, Claremont, CA<br />
<br />
Located in the prestigious North Claremont neighborhood, this expansive 123,263 square foot property, presents a rare opportunity for developers, investors, and homeowners. With two existing homes and significant subdivision potential, this estate is ideal for those looking to create a luxury residential enclave coupled with a historic home with modern enhancements. <br />
<br />
Property Highlights<br />
<br />
Two Existing Homes<br />
-Front Home 3 bedrooms, 2 bathrooms <br />
-Back Home 4 bedrooms, 3 bathrooms <br />
- Ample parking, including two covered garage spaces <br />
<br />
<br />
Historic Home with Character<br />
- Built in 1912, this home offers 2,279 square feet of living space with five bedrooms and three bathrooms <br />
- Classic architectural details provide an ideal canvas for restoration <br />
<br />
**Development Potential** <br />
<br />
- Zoned RS-10,000 with a new housing overlay zone <br />
- Potential to subdivide into up to ten lots (8 new plus one historic home) <br />
- Minimum 10,000 square feet per lot, with the potential to build 3,500 square foot homes with 1,000 square foot ADUs on each lot <br />
- Higher-density housing potential based on city planning initiatives <br />
<br />
<br />
Exceptional Location & Investment Potential<br />
<br />
- Proximity to top-rated Claremont schools, including Chaparral Elementary, El Roble Intermediate, and Claremont High School <br />
- Surrounded by nature and established luxury homes, offering a balance of privacy and convenience <br />
- Close to Claremont Village, known for its shopping, dining, and community atmosphere <br />
- Easy access to major highways and public transportation <br />
<br />
Valuation Insights <br />
<br />
- Estimated value per RS 10,000 subdivided lot: $600,000 <br />
- Historic home valued at $850,000 <br />
- Infrastructure and development costs estimated at $300,000 <br />
- Total estimated property value: $5,350,000 <br />
<br />
A rare opportunity to develop, invest, or create a private estate in one of Claremont’s most desirable locations. |
