5.68 acre property has two newer 5 plex units (10 doors total; one set is 12 years old and one set is 5 years) New rents will be $950/mo POU. There is also municipal approval in principle for a single building lot on the road PLUS two more 5 plex units for a potential total of 20 rentals plus an owner-occupied (or perhaps another rental) house along the road. Two very unique features of this property are: 1) It backs onto North River which is a scheduled salmon river (Zone 7, Class 2), and 2) The current owners have been approved for a $600,000 forgivable loan to assist with the construction of the next 10 units which is transferrable to qualified buyers. Some conditions apply but this program is not expected to make such funding available again for several years, or longer (it has been 10 years since the last round of this financing). A great Cash-rich opportunity for further development. We have the Survey, RPR, and the keys. Viewings on pre-arranged appointment. (id:47423)
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Detailed Information
Total Area
8,360 ft2
Listing Contract Date
2023-12-12
Ownership Type
Freehold
Property Type
Single Family
Transaction Type
For sale
Zoning Description
Mixed
Building
Appliances
Refrigerator, Stove
Architectural Style
Bungalow
Constructed Date
2011
Exterior Finish
Vinyl siding
Flooring Type
Laminate, Other
Foundation Type
Concrete Slab
Heating Fuel
Electric
Heating Type
Baseboard heaters
Stories Total
1
Type
Multi-Family
Land
Total Size
5.68
Acreage
Yes
Sewer
Septic tank
Size of Irregular Land
5.68
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