Discover an incredible investment opportunity with this property offering significant potential. The existing home spans 5,000 sq ft and includes 5 bedrooms and 2 bathrooms. It is a blank canvas, needing a full rehab down to the studs. An added bonus is the garage, which has the potential to be converted into an Accessory Dwelling Unit (ADU).
The property sits on four plots totaling 14,300 sq ft, providing ample space for various development options.
Investment Opportunities:
Rehab & Convert: Rehab the current home and convert the garage into an ADU. Rehab quotes are estimated at $250,000, with an After Repair Value (ARV) of approximately $1.5 million.
New Construction: Alternatively, you can build 2-3 duplexes on the land, with each unit having a resale value of around $950,000. Legal and contractor consultations have already been completed, and an architect and contractor are ready to start the project.
This property offers a unique chance to maximize your return on investment through either rehabilitation or new construction. Don’t miss out on this exceptional opportunity!
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Listing Snapshot
Price
$595,000
Days On Site
101 Days
Bedrooms
5
Inside Area (SqFt)
3,988 sqft
Total Baths
2
Full Baths
2
Partial Baths
N/A
Lot Size
0.06 Acres
Year Built
1925
MLS® Number
DCDC2269632
Status
Active
Property Tax
$17,724
HOA/Condo/Coop Fees
N/A
Sq Ft Source
Estimated
Friends & Family
React
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