Current Use: Development; Multi-Family; Single Family

Deed Restrictions: None

Development Status: Proposed; Other

Documents Available: Building Plan; Plans; Survey; Title Insurance; Other

Environmental Audit: None

Income Includes: Other

Irrigation Source: Municipal Water

Possession: Negotiable

Possible Use: Multi-Family; Single Family

Sewer: Private Sewer; Public Sewer; Septic Tank

Special Listing Conditions: Standard

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

Zoning Information: Use Conforms To Zoning

Source Of Expenses: Owner Provided

Listing Terms: 1031 Exchange; Cash; Conventional; Cryptocurrency; Owner Will Carry; Private Financing Available

Lot Features: Oversized Lot

Road Frontage Type: City Street

Road Responsibility: Public Maintained Road

Road Surface Type: Asphalt; Paved

Tax Information: County Only

Water Source: Public

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

Elevation Description: 0-5 Feet Above Sea Level

Acreage Description: 1/4 To Less Than 1/2 Acre Lot; Less Than 1 Acre Lot

All of the additional 8 units can be ~760 square foot 2 bedroom apartments. The included site plan shows viable layout, parking & access. A formal Pre-Application Consultation (PAC) meeting with the city has been held; representatives from every relevant discipline were present (planning, zoning, engineering, landscape, fire, etc) and they confirmed the site plan is feasible & compliant with current zoning & regulations. Sold land comps: $50k per (mostly 1 bedroom) unit. Active land comps: $58k-$101k per (mostly 1 bedroom) unit. Two bedroom units generally rent for around 30% more than one bedroom units; land buildable for two bedroom units is generally valued around 30% more than land buildable for one bedroom units. 3/2 house comps: $499k-$679k active, $410k-$580k sold. Subject property is a 3/2 house + 8 (2 bedroom) units of buildable land; market value ~$900k. 2 bed rents:$1.8k-$2.5k/mo. 3 bed rents:$3k-$3.8k/mo. Build cost:~$1.3M-$1.5M. All in:~$2M. Projected value:$3M+ = ~$1M instant equity. Potential ~10% cap. 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.