Description
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. All inspections, interior viewings and contact with tenants must be completed upon acceptance of an offer. Please do not disturb owner or tenants. Open Documents for Performa and agent comments.
-
6BEDS
-
0.31ACRES
-
6BATHS
-
01/2 BATHS
-
2,650SQFT
-
$264$/SQFT
Description
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. All inspections, interior viewings and contact with tenants must be completed upon acceptance of an offer. Please do not disturb owner or tenants. Open Documents for Performa and agent comments.
Licensed in the State of California, USA