Mount Pleasant Development Site with existing income earning property
5 bed |
3 bath |
Tremendous investment opportunity! A large fully renovated duplex PLUS the surrounding land is included in the sale which comes with approved plans for 6 additional townhomes each with 3 BRs and 2.5 BAs (permit is good until 2024). With an existing income stream and future development, properties like this don’t come on the market that often, especially at this price.
As a developer, they might want to amalgamate the parcels and redo the whole site if it better suits the development. This is an unusual opportunity because you would have income prior to having the developer complete due to the duplex.
Originally built on two parcels total of 0.83 acres, this duplex has been completely renovated and brought up to date including all-new kitchens with amazing granite counters, tiled backsplashes, custom cupboards, and stainless-steel appliances. Property can also be easily stratified. New floors, all-new fixtures, doors, ceiling fans and recessed lighting. Everything is new. Plus, foam insulation in the ceilings, all new electrical and gas, making it very energy efficient.
Located in the heart of West Bay, this property is within minutes of the bypass. Unit #1 of this duplex is in the front of the home and is a 3 BR/2 BA, 1020 sq. ft. unit. Unit #2 is at the back and is a 2 BR/1 BA, 819 sq. ft. unit. Right now, these residences are bringing in $3,900 per month. The location is very convenient with direct access on Mount Pleasant Road.