Documents Available: Copy Of Lease(s); Deposit - Last Months Rent; Deposit - Security; Deposit Held; Existing Survey; Investment Analysis; Other Available Information; Rent Rolls; Other

Exterior Features: Other

Flooring: Terrazzo

Leasing Permitted Details: Okay To Lease

Property Condition: Resale

Special Listing Conditions: Standard

Structure Type: Duplex

Tenant Pays: Electricity; Sewer; Water

Source Of Expenses: Accountant Provided

Construction Materials: CBS; Stucco

Cooling: Ceiling Fan(s); Wall/Window Unit(s)

Heating: Window/Wall

Listing Terms: 1031 Exchange; Cash; Conventional; Cryptocurrency; Owner May Carry; Owner Will Carry; Trade; Other

Main Living Area: Entry Level

Pets Allowed YN: Yes

Pets Allowed: No Restrictions

Possession: Negotiable

Restrictions: No Restrictions

Road Responsibility: Public Maintained Road

Road Surface Type: Paved

Roof: Flat

Sewer: Public Sewer

Tax Information: City/County

Utilities: Cable Available; Electricity Connected; Phone Available; Sewer Connected; Water Connected; Other

Water Source: Public

Window Features: Storm Window(s)

Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent; Listing Agent Must Accompany; Schedule Online; Text Listing Agent

Outdoor Living Spaces: Patio; Porch

Patio Details: Patio - Open

Porch Details: Porch - Open

Unit 1 Appliances: Dryer; Microwave; Range; Refrigerator; Washer

Unit 1 Other Equipment: Air Conditioning Unit; Washer/Dryer Hookups

Unit 1 Parking Features: Parking Space

Unit 1 Rooms: Family Room; Kitchen

Unit 2 Appliances: Dryer; Microwave; Range; Refrigerator; Washer

Unit 2 Other Equipment: Air Conditioning Unit; Washer/Dryer Hookups

Unit 2 Parking Features: Parking Space

Unit 2 Rooms: Family Room; Kitchen

Acreage Description: Less Than 1/4 Acre Lot; Less Than 1 Acre Lot

Surrounded by ongoing new development, the area continues to attract investors & developers who recognize its long term potential. This property should not be viewed solely as a duplex or solely as a land play; the true value is in both. The existing duplex (that has separate water & electric meters) can remain in place and continue generating income while 8 additional units are developed on the same lot, for a total of 10 units, without tearing down the current structure. The included site plan shows viable layout, parking, & access. A preliminary development meeting with the city has been held; representatives from every relevant department (planning, zoning, engineering, landscape, etc) were present and confirmed that the site plan is feasible and compliant with current code and zoning regulations. Land comps:$91k-$117k per unit sold, $129k-$162k per unit active. Active & sold multifamily comps:$200k(not renovated)-$320k(fully renovated) per unit. Subject property: partially renovated duplex + 8 units of buildable land; market value ~$1.2M. 1 bed rents:$1.6k-$2.3k/mo. Build cost ~$1.2M. All in:~$2M. Projected value:$3M+ = $1M+ instant equity upon completion. Potential ~10% cap rate. Seller will finance. Property is in a Qualified Opportunity Zone, which offers the potential for major tax benefits including deferring taxes, reducing capital gains taxes, and potentially paying no tax at all on the profit when you sell the property; consult tax professional for details and eligibility. See photos & attachments for details on location, plans, and comps. Call listing agent for more information.