Description
Extraordinary Investor/Developer opportunity. The approximate 8996sf lot (60x150), three bedroom, two bathroom dwelling is ready for redevelopment and comes with an existing lease of $6000 per month that would offer you income while in the planning/approval process. Due to demand and proximity to downtown, this area has exploded with new construction of multifamily properties and redevelopments. LAR3 HPOZ zoning (Multiple Dwelling, Historic Preservation Overlay Zone) may allow up to 11 units and possibly more (investigation required). In addition, the property is successfully functioning in it's current use (income producing), and likely provides the ability to add on to the existing structure and/or add ADUs.
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3BEDS
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0.21ACRES
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2BATHS
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01/2 BATHS
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1,884SQFT
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$902$/SQFT
Description
Extraordinary Investor/Developer opportunity. The approximate 8996sf lot (60x150), three bedroom, two bathroom dwelling is ready for redevelopment and comes with an existing lease of $6000 per month that would offer you income while in the planning/approval process. Due to demand and proximity to downtown, this area has exploded with new construction of multifamily properties and redevelopments. LAR3 HPOZ zoning (Multiple Dwelling, Historic Preservation Overlay Zone) may allow up to 11 units and possibly more (investigation required). In addition, the property is successfully functioning in it's current use (income producing), and likely provides the ability to add on to the existing structure and/or add ADUs.
Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-24T00:28:42.57. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zember Realty Group. Licensed in the State of California, USA.