Property Description:
Turn one beat down Mobile Home into 2 brand new homes. Currently it sits on a .93 Acre lot, but based on everything in the area, you should be able to split this lot. The property that sits atop of it now, is older and in really rough condition. You do have comps if you decided to keep it this way, but we recommend best use would be to subdivide and add two new units. I have included all comps below up to a mile and a year, so you can see what’s selling. You have a 936 sf, 2018 built property on 0.32 acres that sold recently for 159/sf. If you stick to the same size, you should be able to source a similar product for $75,000 to $95,000 / unit, depending on what type of manufactured home you are looking at. If you can sell for $150,000 per unit, and you’re estimated cost is $229,000 plus delivery costs/odds and ends. your return should look pretty good at the end of the day.