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Key Details
Sold Price $670,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 820 sqft
Price per Sqft $817
MLS Listing ID ML81970239
Style Traditional
Bedrooms 2
Full Baths 2
Year Built 1929
Lot Size 0.360 Acres
Property Description
Bring your contractors and developers!! Great opportunity to own two detached single family homes on a large 15,700 sqft lot. Each home has 1 bedroom and 1 bathroom with a basement. Units have newer 30 year composition roofs, newer exterior paint and newer windows. Interior is older and needs updating. Rents are very low and could be closer to $1500 per unit if they are raised to fair market value. There are unfinished plans included with the sale to split the lots, demolish both units and build two new single family homes that are approx 1950 sqft each with attached garages. The units are currently on a septic system and would need to be connected to the sewer system in the street for any new development. Lot is zoned medium density residential 2.9 which could allow for up to 5-6 units. Buyer to verify all development potential directly with the city. One of the units is on a mudsill foundation which will require a cash buyer to purchase the property. Could be a 5% Cap rate if rents are raised to market value. Don't miss out on this rare opportunity!
Location
State CA
County Monterey
Area Ss
Zoning MDR
Interior
Heating Wall Furnace
Cooling None
Exterior
Garage On Street, Off-Street Parking
Utilities Available Public Utilities
View Other
Roof Type Composition
Building
Story 1
Foundation Other, Crawl Space
Sewer Existing Septic
Water Public
Others
Special Listing Condition Not Applicable
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Bought with Rosa Chaidez
Matt Cossell
Top 1% Realtor | License ID: 01382971
Top 1% Realtor License ID: 01382971