.45 ACRE PROPERTY * SELLER MAY DO OWNER FINANCING - LET'S GET CREATIVE! * LOCATION, LOCATION! * WALKABILITY RATING very HIGH!.Main St - 5 min, Cinema, Opera, Live Theatre and the Bay, all approx 20 min. An investment property in an up and coming neighborhood with an oversized lot 19,400+/- square feet (few if any others this size available) is approved for total of six (6) cottages. Currently there are 3 separate bungalows each having a unique style with tenants in place. Tax record says Year Built 1932 & eff 1980. Please view the interior photos; units are updated & gorgeous. ZONED Downtown Neighborhood (DTN) for higher density allows a total of six (6) cottages. IA build out of this parcel will NEARLY DOUBLE the RETURN. The current estimated cap rate is 5% and adding three (3) additional units will bring your estimated cap rate to 9%. Downtown neighborhoods are IN and records over the past few years, reflect HIGH demand with less than one percent vacancy ( 002 ). Whether you want to live on site and rent the other units or are just looking for a great investment property this is for you. COMES WITH PLANS TO ADD THREE 3 ADDITIONAL COTTAGES one being 600 sq ft and the other two being 750 sq ft. NOTE: At present a contiguous property on Osprey is available. If purchased alongside this one, the total units possible increases to nine (9).
Location, architecture and possibilities! Only 2 blocks from Main Street and 4 from Burns Court, this charming Mediterranean Revival four-plex presents a fabulous opportunity to profit from the rental market. High ceilings, wood floors and a large backyard. Each unit consists of living room, bathroom, bedroom, dinette and kitchen. Upstairs units have a balcony. Shared laundry. Easily update each unit or convert it into two 2-story townhomes. All, on a quiet street yet just steps away from every urban and cultural amenity downtown offers. Tenants are month-to-month. Individual power and gas meters, one water meter. *** Please do not disturb tenants nor walk around the property
PERFECT FOR COMBINED LIVING SITUATIONS WITH SEPARATE GUEST SUITE! or rent out legal apartment on side of home. Wonderful opportunity to live in up and coming Gillespie Park! Main home offers renovated 3 Bedrooms, 1 Bath with wood floors, ceramic tile and spacious back yard. Guest Apartment with side entrance offers living area, kitchen and bedroom. GREAT rental history with tenants in place!