Description
According to seller, this is approved to a total of 15 units. The breakdown are as follows: Six 3 beds, 6 two beds, 3 one beds, which should generate about $374,000+ a year once completed. This is truly shovel ready. Just pay the permit fee, and start construction all approved by the city to start construction. Full plans will be sent upon request. For the right buyer/investor, this will be a wonderfully modern asset, and once build it will have virtually no maintenance requirements and an amazing return. The property pro forma attached is assuming a $3.5 million dollar loan after construction with a $5.2 million dollar valuation. Buy: $1.5MBuild: $1.9MARV: $5-5.2MTake a look at this cool video from the seller (located in firm remarks) is assuming a refinance loan of approx $3.5M with an appraised value of $5.2M. In the event the buyer leaves 20% in the deal, the cash on cash return is approx. 12% year one. Moist figures: Assessed Value, Sizes, tax are all estimates.Currently 6K sq/ft.
Location
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non commercial use of consumers having a good faith interest in purchasing, leasing or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
Privacy Policy Notice: All information collected voluntarily from you will be used to personalize your experience, improve our website and improve our customer service. This information will not be shared with any other third persons or entities. Updated: 8th June, 2023 1:45 AM (UTC)
Privacy Policy Notice: All information collected voluntarily from you will be used to personalize your experience, improve our website and improve our customer service. This information will not be shared with any other third persons or entities. Updated: 8th June, 2023 1:45 AM (UTC)
Listing Agent: Adelino Vicente
Listing Office: Vicente Realty, LLC
Attribution contact: 508-944-3144 | 508-944-3144
