1832 Crabtree Ave #1-2

Seller will pay a 5% commission to an agent procuring a buyer who can close with standard terms - do not call to list. Two (2) manufactured homes on a .80ac lot. 3bed/2bath is rented $850/mo and the 2bed/1bath is rented for $700/mo for a total of $1,550/mo with additional rental upside. Rents have been kept low to maintain stability with good tenants. One could increase rents by roughly 10% per year for 2 years in a row to reach $1,850/month in total. Low-maintenance, $25/unit/month water bill, $90/quarter garbage bill. Lot-split potential to divide the lot into two separate parcels: 1) Keep one lot and unit and sell the other lot and unit 2) Add a unit to each lot for a total of four units to increase income; keep both lots and all four units, or sell one lot and two units. Contact the city to confirm possibilities. Reason says lot-split, construct a small 900sf 2bed/2bath home, then refinance on a 30 year mortgage for one property. Then sell the separate lot and unit to someone else wanting to do the same, or build out another 900sf 2bed/2bath home yourself and pull another 30 year mortgage on the second property. New home could rent for $1,150 or live in the home and earn additional income from the mobile home unit or rent both. $4,150/month gross rent potential with (2) new 2bed/2bath homes. Do not disturb the tenants or enter the property, call to setup an appointment.