This one is an exciting listing for us! Convenient location, income-producing from the start, and has room to grow with its zoning. Currently listed $1.65 million, which is incredibly competitive for the area. With properties like these, it’s important to be knowledgeable about the potential of the property.
This particular property has 4 units currently on each lot, and all of them are rented and producing income for the current owner. However, the zoning allows for 8 units on each lot AND permits for multiple stories on either building, making it possible to create an apartment complex out of this type of property. It’s so important to have a full understanding of the potential of any property that you invest in, especially when it comes to answering questions for other investors or brokers involved.
Make sure you do your homework and learn as much as you can about the property so that you are positioned for maximum profit in the long-term!