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Home For Sale

Picture of Home For Sale in Madera, California, United States

$350,000

314 Lilly St
Madera, California, United States

9bd 6ba

Listed By: Realtyww Info

Listed On: 06/20/2023

Listing ID: GL9959079 View More Details

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. Seller will consider selling neighboring vacant lot as well at an additional cost.

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Listed by: The Apex Broker, Inc
Source: The World Property Journal

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