1424 Parkhurst Drive
Property Description
INVESTORS, TAKE NOTICE! TWO INCOME-PRODUCING LIVING SPACES, ESTABLISHED TENANTS & POTENTIAL ASSUMABLE FINANCING! Here's an opportunity for the investor who appreciates steady rental income, sees potential beyond cosmetic imperfections, and understands that not every investment comes wrapped in a pretty bow! Situated in an established neighborhood, this property currently generates $2,600 per month ($31,200 annually) in gross rental income, with two long-term tenants who have each been reliable for nearly three years. The **front residence** offers approximately 936 SF with 3 bedrooms, 1 bath, living room, dedicated laundry, independent HVAC, and a spacious concrete front patio/porch. Currently rented for $1,500/month, it also benefits from a roof replacement in 2023 and convenient off-street parking. The **rear building being used as a living quarters** offer approximately 1,118 SF with 3 bedrooms, 1 bath, living room, dedicated laundry, independent HVAC, and covered carport parking. Currently rented for $1,100/month. **HERE'S WHERE THE OPPORTUNITY MEETS REALITY:** The rear living space was converted from a garage/shop years ago **without permits**. The property is not being represented as a legally permitted duplex. The seller currently pays all utilities for both living spaces, an important expense to factor into your investment calculations. The rear roof is aging but has no reported leaks, and the exterior could benefit from cosmetic attention. **TWO POSSIBLE PATHS:** Continue the existing rental arrangement, subject to applicable requirements, or explore returning the rear space to its original garage/shop configuration for a more traditional single-residence setup. **ANOTHER POSSIBLE ADVANTAGE?** Assumable financing may be available on a substantial portion of the purchase price, subject to lender approval and existing loan terms. While the terms may not suit every buyer, the opportunity to assume existing debt rather than obtain entirely new financing could be worth exploring. Contact your agent for details. This isn't a turnkey, picture-perfect investment. It's an income-producing property with established rental history, room for improvement, and possibilities for a buyer willing to do the homework. **Buyer to independently verify square footage, zoning, permitted uses, conversion status, code compliance, rental arrangements, expenses, loan assumability and terms, and all other matters of importance.**
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $189,000 |
| No. of Units: | 2 |
| Opportunity Zone: | No |
| Price per unit: | $94,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 2 |
ID: 3yd-RASKKY-RA20266727
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