This property is a rare gem, perfectly suited for a range of buyers, from savvy investors seeking income producing opportunities to families looking for a versatile home. With a total net rent of $4,900 per month, this duplex delivers an impressive 4.9% cap rate. Its MTM zoning not only permits a single family home to be constructed up to 36 feet high in the front of the lot but also unlocks additional potential for creative development. Situated in flood zone X, the property offers added peace of mind, free from the worries of high risk flood zones.
The fully renovated duplex boasts two distinct units: one featuring two bedrooms and one bathroom, and the other a cozy one bedroom, one bath layout. Every detail of the approximately $40,000 in upgrades has been thoughtfully executed to ensure a modern and worry free living experience. The property features a brand new roof installed in 2021 and recently updated air conditioning units for ultimate comfort. Plumbing has been completely upgraded to durable PVC, connected seamlessly to the city drain with new clean outs. The interiors have been refreshed with updated kitchen countertops, while the bathrooms exude elegance with new showers, toilets, cabinets, and a fresh, modern coat of paint.
Outside, the property continues to impress. A newly constructed concrete porch, an $18,000 investment, adds a touch of sophistication and durability, while the privacy fence, installed in November 2023, creates a serene and secure atmosphere. The oversized lot amplifies the property's versatility, offering ample space for additional development or outdoor enhancements. The duplexs strategic placement at the rear of the lot maximizes usability, leaving the front portion primed for future construction or landscaping dreams.
This property stands as a testament to both charm and potential, providing a blank canvas for those who want to expand on its many possibilities. Whether youre an investor looking to maximize rental income or a homeowner seeking to live in one unit while renting out the other, the options here are virtually limitless. The zoning allows for further development, such as a single family home or additional rental spaces, ensuring this property remains a standout investment.
Seize this unique opportunity to own a property that combines timeless appeal with modern upgrades, all while offering untapped potential for future growth. Schedule your private showing today and step into a property that truly has it all.
