Description
Currently Two Single Family Homes and one Duplex onoversized 18k sqft lot. A large portion of the lot iscompletely undeveloped and is already entitled andfully approved for 4 more units (Two Duplexes) whichhave permits Ready to Issue and buyer can beginconstruction immediately.One of the homes was completely remodeled in 2023and is collecting $2,595 in rent. All tenants are qualitypeople and not only have zero issues but arewonderful people to work with and pay rent on time.Property is being offered at $1,650,000 which issignificantly cheaper than many four unit buildingsnearby that have sold with smaller lots and noapproved plans. The fully approved plans give a buyerthe immediate ability to significantly increase the cashflow of the property. Bids are available by request.Total construction cost for four units estimated $550kand will return to buyer $10,800 monthly or $129,600annually or a 23% annualized return on the new 4 unitbuilt. New construction buildings sell for an average of$509k/unit.
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0BEDS
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0.42ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Currently Two Single Family Homes and one Duplex onoversized 18k sqft lot. A large portion of the lot iscompletely undeveloped and is already entitled andfully approved for 4 more units (Two Duplexes) whichhave permits Ready to Issue and buyer can beginconstruction immediately.One of the homes was completely remodeled in 2023and is collecting $2,595 in rent. All tenants are qualitypeople and not only have zero issues but arewonderful people to work with and pay rent on time.Property is being offered at $1,650,000 which issignificantly cheaper than many four unit buildingsnearby that have sold with smaller lots and noapproved plans. The fully approved plans give a buyerthe immediate ability to significantly increase the cashflow of the property. Bids are available by request.Total construction cost for four units estimated $550kand will return to buyer $10,800 monthly or $129,600annually or a 23% annualized return on the new 4 unitbuilt. New construction buildings sell for an average of$509k/unit.
Based on information from California Regional Multiple Listing Service, Inc. as of 2024-09-12T14:36:20.623. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.