Description
OPPORTUNITY KNOCKS!!! A great project with lots of upside! Right now, the property has been approved and has plans for an addition to the original house. First inspection passed already but Seller is involved in another project and wants this jewel sold. There are many ways you can take this deal. Property is zoned multi-family already. 1. Finish house and market at top dollar with a huge half-acre lot. 2. Property is zoned multi-family with a nod from the city for up to to 16 units (stacked with tuck-under parking) three stories high. If you decide to maximize your investment, you'd have to demolish the house that's currently permitted for the addition. However, you can finish the house with about 80k-100k and get top dollar or add more units. Please see attachment for possible scenariosNarrative: This unique property is for the savvy investor looking for a small money-making project (either through resale or cashflow) or a single owner looking for a property that is centrally located to maximize the use of the large lot to bring their RV(s), off-road vehicles, or work equipment. It zoned multi-family and has a nod from the city to go up to 16 units, three stories high with tuck-under parking. Your imagination and city and county parameters are your only limits. Bring your A-Game and a great imagination to maximize the use of this beautiful property. Option 1 is to finish the home with the addition. Permits were obtained and first inspection passed. Permits are now expired and will need to be reinstated or, new permits sought for a bigger/different project. Option 2 is to finish the addition and maybe fix second structure currently onsite so you can have two homes on a large lot. Option 3 is to razor the current structures and approach the city for a multi-family project of 10 to 16 units. Option 4 is to finish the home and add a few more units. Split property in half at COE, finish current addition, and sell the excess land left after the split or build a new house on it. These are some of the possibilities but the new proud owner will ultimately make a decision that makes sense to them.
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3BEDS
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0.5ACRES
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2BATHS
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01/2 BATHS
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1,696SQFT
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$369$/SQFT
School Information
Description
OPPORTUNITY KNOCKS!!! A great project with lots of upside! Right now, the property has been approved and has plans for an addition to the original house. First inspection passed already but Seller is involved in another project and wants this jewel sold. There are many ways you can take this deal. Property is zoned multi-family already. 1. Finish house and market at top dollar with a huge half-acre lot. 2. Property is zoned multi-family with a nod from the city for up to to 16 units (stacked with tuck-under parking) three stories high. If you decide to maximize your investment, you'd have to demolish the house that's currently permitted for the addition. However, you can finish the house with about 80k-100k and get top dollar or add more units. Please see attachment for possible scenariosNarrative: This unique property is for the savvy investor looking for a small money-making project (either through resale or cashflow) or a single owner looking for a property that is centrally located to maximize the use of the large lot to bring their RV(s), off-road vehicles, or work equipment. It zoned multi-family and has a nod from the city to go up to 16 units, three stories high with tuck-under parking. Your imagination and city and county parameters are your only limits. Bring your A-Game and a great imagination to maximize the use of this beautiful property. Option 1 is to finish the home with the addition. Permits were obtained and first inspection passed. Permits are now expired and will need to be reinstated or, new permits sought for a bigger/different project. Option 2 is to finish the addition and maybe fix second structure currently onsite so you can have two homes on a large lot. Option 3 is to razor the current structures and approach the city for a multi-family project of 10 to 16 units. Option 4 is to finish the home and add a few more units. Split property in half at COE, finish current addition, and sell the excess land left after the split or build a new house on it. These are some of the possibilities but the new proud owner will ultimately make a decision that makes sense to them.
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