[cha-ching!]
CLEAN GUT|on the corner WITH parking (in both the side street + small detached garage)!
Between Jane & Mary Streets (see aerial photo). Of course a couple blocks from E. Carson Street.
2 homes, 1 parcel – zoned a duplex; it’s actually 2 completely independent homes, not attached to anything but each other. Separate utilities.
Options:
- keep as a 4BR/2BA duplex (2 – 2BR/1BAs)
- convert to two 3/1 or 3/2 units (easily doable / there’s room)
- make a large single-family
- segregate parcel into two 1,156 sq. ft. SFRs
- anything else you can assume will be profitable or interesting
- Down-to-studs
- Exposed brick
- Fenced backyard
- Mega-tall ceilings
- Attic has windows for additional bedroom options
ROI = up to you; depending on some scenarios I ran for the 5 options above, you’re looking at either a heavy cash return or a CAP from 12% → 16%.
Really nice properties surrounding – high neighborhood appeal.
Probably won’t see a deal like this again. Imagine the return if you separate into 2 parcels!!
- Taxes: $1,245
- Electric: Needs updating
- Plumbing: Needs updating
- Kitchen: Needs both
- Bath: Needs both
- Roof: 15 yrs old
- Furnace: Needs both
- Hot Water Tank: Needs both
- Windows: Single-paned
- (2) 2 BR / 1 BA
- Floors: 2
- Parking: Off-street (1-car garage + plenty on side street)
- Rental Potential: $2,750/mo (TOTAL)