Description
Turn-key investment opportunity! Existing structure is a triplex, which offers 3 separate units each featuring 3 bedrooms, 2 bathrooms, and approximately 1,125 sqft, all on a 17,000 sqft lot. The structure was built and nearly finished in 2007 at which time there was a fire, which caused damage to the back two units. Sale includes the building plans for the remodel, which have been approved by the City of Madera and permits have been issued. Section 8 vouchers for 3 bedroom apartments are currently approaching $2,000 a month, with comparable rental properties renting for similar pricing. This is a rare value-add opportunity for an investor and/or developer looking to build equity and generate substantial cash flow through the completion of the existing triplex and the potential development of an ADU.
-
9BEDS
-
0.39ACRES
-
6BATHS
-
01/2 BATHS
-
3,375SQFT
-
$111$/SQFT
School Information
Description
Turn-key investment opportunity! Existing structure is a triplex, which offers 3 separate units each featuring 3 bedrooms, 2 bathrooms, and approximately 1,125 sqft, all on a 17,000 sqft lot. The structure was built and nearly finished in 2007 at which time there was a fire, which caused damage to the back two units. Sale includes the building plans for the remodel, which have been approved by the City of Madera and permits have been issued. Section 8 vouchers for 3 bedroom apartments are currently approaching $2,000 a month, with comparable rental properties renting for similar pricing. This is a rare value-add opportunity for an investor and/or developer looking to build equity and generate substantial cash flow through the completion of the existing triplex and the potential development of an ADU.
© 2023 Fresno Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated: 2023-05-30T09:46:31.44.