Description
7-8% return on investment for developer / $9-10k per month. Currently, there are 2 partially completed detached units, the first unit 2/2, and the second unit 2/2.5 baths. Both units have already undergone renovations, with new roofs, floors, and bathrooms installed. Estimated cost to complete both units $50k. Rents in the area are $2300 per unit. Plans are almost approved for an additional 2 units (possible to be included). Estimated cost to build additional 2 units around $350k. The property is zoned to build up to 9 units, so there is still more value to extract in the long run. Buyer must be willing to close with unsafe structure violation. There are no fines.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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1,527SQFT
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$462$/SQFT
School Ratings & Info
Description
7-8% return on investment for developer / $9-10k per month. Currently, there are 2 partially completed detached units, the first unit 2/2, and the second unit 2/2.5 baths. Both units have already undergone renovations, with new roofs, floors, and bathrooms installed. Estimated cost to complete both units $50k. Rents in the area are $2300 per unit. Plans are almost approved for an additional 2 units (possible to be included). Estimated cost to build additional 2 units around $350k. The property is zoned to build up to 9 units, so there is still more value to extract in the long run. Buyer must be willing to close with unsafe structure violation. There are no fines.
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