This property wont last long with a major $229,000 price reduction!! 3 unit multifamily opportunity with canal frontage leading to lake walk in water. Located at the end of a private, dead end street with 164 feet of canal frontage, this unique 0. 54 acre multi family property offers direct access to the 7,500 acre lake walk in waternationally renowned for its trophy bass fishing. Zoned r 3, this property features three existing units and the infrastructure to add a fourth, making it the ultimate versatile asset. Whether you are looking for a high yield investment, a subsidized waterfront lifestyle, or a multi generational getaway, this newly repriced asset is priced to move. Choose your strategy: 1) the value add investment at the newly reduced price of $229,000! The property generates $2,075/month ($24,900/year) from just two occupied units (units a and c), with tenants paying their own utilities. Immediate upside: lease the currently vacant unit b ($750. 00/month) $33,900. 00/year unlocking a massive double digit cap rate!!! 2) the waterfront "house hacker" stop paying a mortgage and start getting paid to live on the water. You can immediately move into unit ba vacant, sturdy 1975 concrete block apartment featuring a kitchenette and its own private dock. While you enjoy the lake lifestyle, your neighbors in units a and c will generate $2,075/month which can easily cover your mortgage and property taxes ($3,177/yr), and insurance. You get to live on the water virtually for free while building equity. The family compound / fish camp: a multi generational retreat or a shared family vacation property? This compound offers three distinct, private living spaces on one lot. With multiple docks and direct canal access just three blocks from the public boat ramp, it is the perfect setup for a family of outdoor enthusiasts. Keep it all for your family, or rent out one unit to cover the annual carrying cost. This multifamily property offers multiple strategies and wont last long!
This property wont last long with a major $229,000 price reduction!! 3 unit multifamily opportunity with canal frontage leading to lake walk in water. Located at the end of a private, dead end street with 164 feet of canal frontage, this unique 0. 54 acre multi family property offers direct access to the 7,500 acre lake walk in waternationally renowned for its trophy bass fishing. Zoned r 3, this property features three existing units and the infrastructure to add a fourth, making it the ultimate versatile asset. Whether you are looking for a high yield investment, a subsidized waterfront lifestyle, or a multi generational getaway, this newly repriced asset is priced to move. Choose your strategy: 1) the value add investment at the newly reduced price of $229,000! The property generates $2,075/month ($24,900/year) from just two occupied units (units a and c), with tenants paying their own utilities. Immediate upside: lease the currently vacant unit b ($750. 00/month) $33,900. 00/year unlocking a massive double digit cap rate!!! 2) the waterfront "house hacker" stop paying a mortgage and start getting paid to live on the water. You can immediately move into unit ba vacant, sturdy 1975 concrete block apartment featuring a kitchenette and its own private dock. While you enjoy the lake lifestyle, your neighbors in units a and c will generate $2,075/month which can easily cover your mortgage and property taxes ($3,177/yr), and insurance. You get to live on the water virtually for free while building equity. The family compound / fish camp: a multi generational retreat or a shared family vacation property? This compound offers three distinct, private living spaces on one lot. With multiple docks and direct canal access just three blocks from the public boat ramp, it is the perfect setup for a family of outdoor enthusiasts. Keep it all for your family, or rent out one unit to cover the annual carrying cost. This multifamily property offers multiple strategies and wont last long!
Features
Building and Construction
Covered Spaces: 0.00
Exterior Features: Other
Flooring: Wood
Living Area: 1652.00
Roof: Metal
Garage and Parking
Garage Spaces: 0.00
Open Parking Spaces: 0.00
Eco-Communities
Water Source: Private, Well
Utilities
Carport Spaces: 0.00
Cooling: Wall/Window Unit(s)
Heating: Ductless
Sewer: None
Utilities: Other
Finance and Tax Information
Home Owners Association Fee: 0.00
Insurance Expense: 0.00
Net Operating Income: 0.00
Other Expense: 0.00
Tax Year: 2024
Other Features
Appliances: Microwave, Range, Refrigerator
Country: US
Furnished: Unfurnished
Interior Features: Other
Legal Description: BEG NW COR OF SE1/4 RUN S 1001.23 FT TO 40 FT RD ELY ALONG C/L RD 309.13 FT FOR POB RUN N 18 DEG 54 MIN 33 SEC E 150.12 FT TO C/L WATERWAY ELY ALONG C/L 115.98 FT CONT N 81 DEG E 82.1 FT S 33 DEG 57 MIN 52 SEC W 217.39 FT S 31 DEG 06 MIN 01 SEC W 40 FT WLY 113.38 FT TO POB LESS N 25 FT &LESS S 20 FT BEING LOT 56 W INDIAN LAKE HGTS SUB
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