Envision a unique, income-generating opportunity presented by two manufactured homes nestled on a spacious 0.8-acre lot. Currently, one home offers 3 bedrooms and 2 bathrooms and fetches rent amounting to $850 every month. The second home, a cozy two bed one bath setup, is rented out for $700 monthly. This clever setup currently brings in a total of $1,550 per month.
The astute investor sees added potential as these properties offer an avenue to increase rentals by approximately 10% annually, skyrocketing your eventual total to a pleasant $1,850 a month. To further sweeten the deal, the property boasts a low overhead cost, with a manageable $25 water bill per unit each month and a nominal $90 garbage bill coming in every quarter.
What truly sets this opportunity apart is the land it rests upon. The .80ac lot holds the potential to be divided into two separate parcels, allowing for options of keeping one lot and selling off the other, or driving up income by adding additional unit on each lot.
The potential here is tremendous, envision constructing a quaint 900sq ft. home on each lot. These could be then refinanced on a 30-year mortgage, while maintaining the ability to either retain or sell, entirely at your discretion. As an estimate, each new home could draw a rental of $1,150, or you could enjoy the fruits of your work yourself and continue to earn from the manufactured units. Taking such steps could elevate your income to a potential gross rental of $4,150 per month.
This arrangement ensures you profit, whether you decide to dwell within one of these homes or continue to rent. This optimal balance between residential utility and business opportunity sets a new standard for desirable real estate investments. Prospective buyers must confirm the aforementioned possibilities with the city.
Please respect the tranquility maintained by the current occupants - call to arrange a viewing instead of dropping by unannounced. Unlock the potential that lies within this property and enjoy a fruitful investment.