Description

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