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2 Homestead AVE
2 Homestead AVE
2 Homestead AVE
2 Homestead AVE
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$595,000

2 Homestead AVE

820 Sq.Ft.

Description

Bring your contractors and developers!! Great opportunity to own two detached single family homes on a large 15,700 sqft lot. Each home has 1 bedroom and 1 bathroom with a basement. Units have newer 30 year composition roofs, newer exterior paint and newer windows. Interior is older and needs updating. Rents are very low and could be closer to $1500 per unit if they are raised to fair market value. There are plans included with the sale to split the lots, demolish both units and build two new single family homes that are approx 1950 sqft each with attached garages. The units are currently on a septic system and would need to be connected to the sewer system in the street for any new development. Lot is zoned medium density residential 2.9 which could allow for up to 5-6 units. Buyer to verify all development potential directly with the city. One of the units is on a mudsill foundation which will require a cash buyer to purchase the property. Could be a 5% Cap rate if rents are raised to market value. Don't miss out on this rare opportunity!

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Location

2 Homestead AVE, Salinas, CA 93901

Status

Active Under Contract
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We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.

Schedule a Showing

We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.
Thank you for your interest in 2 Homestead AVE, Salinas, CA 93901. We are reviewing your request and will be in touch shortly!
Sean Griffin

Sean Griffin

TITLE

Founder, Broker Associate

Property Amenities

Area & Lot
Lot Area 0.36 Acres
Living area 820 Sq.Ft.
MLS® ID ML81970239
Year Built 1929
School District Salinas Union High
Architecture Styles Traditional
Type Multi-Family
Status Active Under Contract
Exterior
Stories 1
Water Source Public
Sewer Septic Tank
Parking Off Street
Roof Composition
Finance
Sales Price $595,000

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