Documents Available: Existing Survey; Site Plans

Electric: Other

Flooring: Laminate; Parquet; Terrazzo; Tile; Vinyl

Heating: Window/Wall

Parking Features: Accessible Parking; Covered

Possession: Negotiable

Sale Includes: Building; Land; Other

Special Listing Conditions: Standard

Zoning Information: Use Conforms To Zoning

Source Of Expenses: Owner Provided

Construction Materials: Block; CBS; Concrete; Concrete Block - With Stucco; Stucco

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

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

Lot Features: Oversized Lot

Road Frontage Type: City Street

Road Responsibility: Public Maintained Road

Road Surface Type: Asphalt; Paved

Roof: Flat; Shingle

Security Features: Smoke Detector(s); Other

Sewer: Private Sewer; Public Sewer; Septic Tank

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

Water Source: Public

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

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

Option 1: 9-Unit Development: Keep the existing structure as a 3 bed 2 bath home while developing 8 additional approximately 760 square foot, 2-bedroom apartments on the same lot, for a total of 9 units. 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. Build cost:~$1.6M. All in:~$2.2M. Projected value:$3M+ = ~$800k instant equity. Potential ~10% cap rate. Option 2: 6-Unit Turnkey Development. Retain the existing structure, configured as two units: a 2/1 and a 1/1, and add two factory-built steel duplexes, each featuring two 3 bed 2 bath units for 6 units total. The manufacturer handles plans and permits, with the duplexes delivered and installed by crane. This streamlined, turnkey approach is designed to minimize development complexity and costs while maximizing cash flow. Build cost:~$1.1M. All in:~$1.7M. Projected value:~$2.5M = ~$600k instant equity. Potential 10%+ cap rate. You also have a third option of tearing down the existing structure and building townhomes similar to the development across the street. 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. Land buildable for three bedrooms units generally sells for more than double 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 or 4 (3 bedroom) units for buildable land; market value ~$900k. 1 bed rents: $1.6k-$1.9k/mo. 2 bed rents:$1.8k-$2.5k/mo. 3 bed rents:$3k-$3.8k/mo. 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.