1001 W Myrtle Street

In 1988, BACK house was build. In 2022 MAJOR REMODEL for both houses was done. Now Increase your income substantially approx.$40,000 annually in additional RENT, to reach CAP rate 8%. By adding an ADU & an addition to FRONT house. Already Permitted. Building permit has been issued. Seller has approved plans from the city to add living space and a bath to the FRONT HOUSE. And to convert the 3 garages in the back HOUSE to a 2 bedroom ADU** YOU CAN END UP with THREE units in the BACK HOUSE. Build & FLIP. Over $27,000 in design & city fees paid & are included in the purchase price. The permit will be TRANSFERRED to the buyer AS-IS. ** Now there are TWO HOUSES sitting on one LARGE lot aprox 9,583 sq.ft. the property has a PRIVATE gate for more privacy and security. ** ALL Tenants are on month to month lease and paying MARKET Value rent ** BOTH HOUSES have NEW double-pane windows, NEW floors w/ baseboard everywhere in living rooms and bedrooms, NEW bathrooms, NEW tub, vanity & toilet.
New kitchen cabinets, countertops, plumbing fixtures. NEW light fixtures. ** FRONT house is one level w/ 2 bedrooms and one FULL bath and a full kitchen with ATTACHED 2 car garage. ** BACK house is a 2 story house and has been divided into TWO SEPÁRATE units with SEPARATE stairs from inside. BACK HOUSE , has 2 units // First unit (can be 5 bedrooms) , it consists of 2 story, DOWNSTAIRS has a LARGE open floor plan with one bedroom, one FULL bathroom, spacious living area that opens to the full kitchen which is completely remodeled w/cabinets, pull-out drawers and self-closing doors, quartz countertops. NEW paint everywhere. Kitchen has a sliding window that opens to a big patio // UPSTAIRS has 2 bedrooms, one full bath, an OPEN area that can be an additional room or office and a BIG LOFT that can be an additional room ** The unit to the RIGHT, is an upstairs unit with 2 bedrooms, one FULL bath, SPACIOUS entrance to living area & kitchen. NEW tankless water heater.
Very big LOT for additional parking. Front & Back unit are SEPARATELY metered for gas, electric and water.
CENTRALLY located, close to downtown, transportation, schools, shopping & park. MAJOR freeways 22,5,57. DO NOT go direct, do not disturb tenants. Standard sale. Please submit offer subject to inspection and cross qualification. Must see to check the separation, please ASK me for the PROPERTY VIDEO, GREAT INVESTMENT opportunity. MOTIVATED SELLERS.