Description
CREATIVE ALTERNATIVES AVAILABLE. CALL LISTING AGENT!! LET'S SEE IF WE CAN MAKE THIS A 6% CAP RATE FOR YOUR BUYER!This is a unique opportunity to own an established 'rental' property in a prime location. The seller pays all Gas, Electric and water for the entire property. All projections of expenses shows Electric is projected to be $300 per month which is the probable monthly cost for Solar panels via SunRun. The buyer must submit a request to the Solar company to activate it. Buy with the intent to owner occupy, buy as an investment with rental income projected to offer a solid 5% CAP or even develop it into a Airbnb marketing. This a Legal Non-Conforming structure on a R-1 zone. As financing may require a substantial down payment the seller is willing to offer a favorable loan. A seller carry back loan equal to 50% of the purchase price may be available at a favorable interest rate. In the event the buyer chooses to buy without seller financing the seller may require the buyer's cooperation in a 1031 exchange at no cost or delay. The owner's unit is 2 bedrooms, 3 baths of more than 1,250 square feet with 3 bachelor units of a total of about 1,400 square feet. Each unit has access to a lovely rear yard, patio areas, mountain views and their homes are close to shopping, transportation and other amenities. This home is on a large double corner lot, very unique for this area. Please do not disturb owner or tenants. Open Documents for Performa and agent comments.
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6BEDS
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0.31ACRES
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6BATHS
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01/2 BATHS
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2,650SQFT
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$264$/SQFT
Description
CREATIVE ALTERNATIVES AVAILABLE. CALL LISTING AGENT!! LET'S SEE IF WE CAN MAKE THIS A 6% CAP RATE FOR YOUR BUYER!This is a unique opportunity to own an established 'rental' property in a prime location. The seller pays all Gas, Electric and water for the entire property. All projections of expenses shows Electric is projected to be $300 per month which is the probable monthly cost for Solar panels via SunRun. The buyer must submit a request to the Solar company to activate it. Buy with the intent to owner occupy, buy as an investment with rental income projected to offer a solid 5% CAP or even develop it into a Airbnb marketing. This a Legal Non-Conforming structure on a R-1 zone. As financing may require a substantial down payment the seller is willing to offer a favorable loan. A seller carry back loan equal to 50% of the purchase price may be available at a favorable interest rate. In the event the buyer chooses to buy without seller financing the seller may require the buyer's cooperation in a 1031 exchange at no cost or delay. The owner's unit is 2 bedrooms, 3 baths of more than 1,250 square feet with 3 bachelor units of a total of about 1,400 square feet. Each unit has access to a lovely rear yard, patio areas, mountain views and their homes are close to shopping, transportation and other amenities. This home is on a large double corner lot, very unique for this area. Please do not disturb owner or tenants. Open Documents for Performa and agent comments.
Licensed in the State of California, USA