Duplex - Investment Property

$650,000.00

Property Details:

• Size: 2022 SF

• Bedrooms: 4

• Bathrooms: 2

• Year Built: 1930

• Asking Price: $650,000.00

Current Rental Details:

• Unit A: $1,200/month (2 Bd / 2 Ba)

• Unit B: $1,200/month (2 Bd / 2 Ba)

Property Highlights:

• Status: Both units are currently rented at $1,200/month each.

• Potential Market Rent (as Duplex): $2,400/month per unit

• Potential Market Rent (as Single Family): $3,800/month

• ARV (After Repair Value): Between $880,000 and $930,000 if converted into a single unit.

• Condition: Fair

• Zoning: R6 (Eligible for a DADU with varying setbacks based on size. Potential rear setback of 20ft for over 700 sq ft footprint or 10 ft for under 700 sq ft. Side setbacks at 5 ft.)

• Overlays: OV-NHC (Historic Commission with potential design standards) and OV-UZO (Urban Zoning Overlay promoting redevelopment in older city areas).

Investment Considerations:

1. Dual Rental Streams: With both units currently rented, this property offers immediate cash flow.

2. Potential for Value Add: The property holds potential for significant value appreciation, especially if converted into a single unit.

3. Zoning Benefits: The R6 zoning and eligibility for a DADU offer versatility in redevelopment options.

4. Overlays: The historic commission and urban zoning overlay provide opportunities for strategic redevelopment in alignment with city plans and potential benefits.

For Sale Comps

Duplex - Market Rent Comps

Single Family - Market Rent Comps

A&R Development & Acquisitions

Eric Brinson, REALTOR and General Contractor

Mobile: 615-987-7897

ericb@andersonandryan.com

www.andersonandryan.com

*Note* You DO NOT have permission to market this property in anyway to anyone on any social media platforms, email, or direct to someone you know. You DO NOT have permission to mark up the property for your profit. If you know someone who may want to invest with us on this property contact ericb@andersonandryan.com directly to discuss. This is an off market investment opportunity.