INVESTORS – 1031-Exchange into this property and leverage $600,000 into $4.8-million ... $600,000 gets you into the property and the build out can be financed ... build EIGHT brand-new rentals at $435,000 per unit and get Cap-Rates of approx. 6.2% - AND - instant equity of $165,000 per unit. This can be an AFFORDABLE HOUSING project. The current house would rent for $2,500 to $3,000 per month while you are getting plans approved. Land is already zoned M-2.5 for up to 8-units. Do something unique that will get a lot of publicity for being so cool – and get you invited to do more in-fill projects. This location is awesome – walk to WC or PH BART – and easy, easy, easy access to the freeway. 20,037 square foot lot is flat. Two APN’s 172-130-015 and 172-130-016-6.
Listing courtesy of Re/Max Accord. Selling Office: .