"Under Contract / Taking Back-Ups." Excellent income property in prime Laurel Park location. Three blocks to Main St. and all services downtown has to offer. The "Seven Gables" building has 5 units with 3 studio apts. and 2 - 1BD, 1BA units. All units have had some updating and have been well maintained. The property and it's location provide for very high occupancy rates. On-site laundry for tenants along with 10 parking spaces.
SHORT SALE. This property has numerous options for the prospective buyer as it consists of a newly renovated three bedroom, one bath home along with 2 - one bedroom, one bath apartments and a studio apartment. The apartments are rented and the home is available for occupancy or rent. Apartments currently generate $2,225. per month. Single family home is in move-in condition having been recently renovated. Pay your mortgage with the passive income from the apartments. Not to be overlooked is the fact that current building code in Gillespie Park provides for the ability to subdivide this parcel into 3-buildable lots. Gillespie Park also allows for "live work" so the home works nicely as it has a separate entrance for an in-home business. "Live-work", passive rental income, plus the ability to redevelop as the market continues to improve......this property has great merit today and for the future! Excellent location on one of Gillespie Park's best streets. Walking distance to downtown and the shops and restaurants of Citrus Square, Darwin's, Station 400, The Blue Rooster and beautiful 10 acre Gillespie Park with it's own playground, lake, picnic area and tennis courts. Listing price may not be sufficient to pay the total of all liens and costs of sale, and sale of Property at full listing price may require approval of seller's lender(s), and such approval may be conditioned upon the gross commission being reduced." Commission to be split between the cooperating Brokers on a 50/50 basis.
Excellent location, income and development opportunity. Great income on a prime corner lot that is directly across from 10 acre Gillespie Park. This property also has great long term potential as it may be subdivided into three buildable lots. Gillespie Park is one of the last value propositions for downtown living. Values are rising and absorption is rapid. Get in while you still can.