Rare opportunity to own this land parcel zoned G-MU-5, allowing 5 story multi-family developments, with a Four Plex! 12,500 sf approximate lot with an existing 4-plex totaling approximately 6,500 sf combined. The units are huge, and are completely under market rents. The unit mix is:4/2, 3/2, 2/1 and 1/1 set up with $4,250/month rents, with leasing 3 car detached garage at $600/month can increase rents as is. Two unit have fireplace, and 2 units access the garages. New rent analysis indicates $7,500-8,500/month including the 3 car garage. Excellent opportunity for income while waiting for permitting!
Courtesy of THE KENTWOOD COMPANYSelling Office: MODUS Real Estate.
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