1390 Prospect
Pomona, CA, 91766
$1,675,000
MLS: CV26119618
Beds
2
Baths
1
Sq Ft
1,455
Lot
2.02 ac
Year Built
1927
MLS #
CV26119618
Days on Market
1
Listed
Jun 11, 2026
Description
Welcome to 1390 Prospect Drive, an 88,182 Square foot parcel! (2.2 Acres) featuring a fully renovated single family home and studio guest house with a view and pool currently generating $5,000 per month in rental income. Most buyers evaluate this property with the in-place income. The property offers significant development potential to build up to 20 units with plenty of parking. However, to simplify requirements per the city it would be more economical to streamline and build 10-15 units at approximately 750 Square Ft or less. The potential of building 10- 15 additional 2 bd, 1 1/2 bath units would potentially create an opportunity for returns exceeding a 20% CAP Rate! You can collect rents while you work on your development plans. $100,000 plus in recent capital improvements, new interior, exterior paint, cabinets, electrical, plumbing and windows.Welcome to 1402,1404 & 1406 Prospect Drive, a 40,939 Square foot parcel! Almost 1 acre!! This parcel features 3 houses on a lot which consist of a fully remodeled single-family home with 2 bds and 1 bath @$2,750mo: A 2bdrm 1 ba w/ 1 car garage @ $2,700 mo: And a 1 bd, 1 bath @ $1,800 mo. Three separate houses with a view! Currently generating at total $7,250 mo. per month in rental income. Most buyers evaluate this property with the in-place income. The property offers significant development potential to build up to 20 units with plenty of parking. However, to simplify requirements per the city it would be more economical to streamline and build 10-15 units at approximately 750 Square Ft or less. The property has 3 additional concrete areas for parking. 1 area is a 5000SF+-, 2nd area is 4000SF+- and the 3rd area is 3000SF+-. The potential of building 10- 15 additional 2 bd, 1 1/2 bath units would potentially create an opportunity for returns exceeding a 20% CAP Rate! You can collect rents while you work on your development and entitlement plans. $200,000 plus in recent capital improvements, new interior, exterior paint, flooring, cabinets, electrical, plumbing and windows. Lot lines in photos are approximate. Please review supplements. Buyers to verify all development possibilities and aspects with the City of Pomona.
Location
Pomona, Los Angeles County, CA 91766
Open on Google Maps ↗Listed by: Albert Rodriguez · CENTURY 21 CITRUS REALTY INC
Payment estimate
$12,221
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $167,500 · Loan: $1,507,500
Average 30-yr fixed rate 6.52% as of Jun 11, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $9,548
- Property tax (1.25%)
- $1,745
- Homeowners insurance
- $300
- Mortgage insurance
- $628
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Jun 11, 2026
- 30-year fixed
- 6.52%
- 15-year fixed
- 5.84%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Pomona home with as little as 3.5% down using an FHA loan — roughly $58,625 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
Local Market Stats
See Pomona, CA 91766 market trends →
Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
★#1 Producing Individual Realtor — Antelope Valley
Only large teams outsell Mike Watson · Keller Williams Realty
Free Buyer & Seller Tools
Net Sheet Calculator
Estimate how much you'll walk away with after selling. Covers commissions, closing costs, and loan payoff.
Property Comparison
Compare 2–3 properties side-by-side — equity, monthly payment, cash to close, and DTI — all in one infographic.
Drive Time Calculator
Check commute times from this address to work, school, or anywhere else before you commit.
Buyer Cost Sheet
Estimate your total closing costs as a buyer — lender fees, title, escrow, and prepaids — before you write an offer.