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Listed by Dawn Roberta Bear • Allie Bear Real Estate
$ 29,000
Est. payment | /mo
7,405 Sqft Lot
$ 29,000
Est. payment | /mo
7,405 Sqft Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision Railroad Addition
MLS Listing ID 3628460
HOA Y/N No
Annual Tax Amount $104
Lot Size 7,405 Sqft
Acres 0.17
Property Description
Take advantage of a unique opportunity to create two income-producing properties on one parcel in Wells, Nevada. The seller has had the property surveyed and is working toward splitting the parcel into two separate lots, with the engineer's work and final City approval still pending.The seller's proposed plan is to build a duplex on each lot, potentially creating four residential units in total. This could provide an owner-occupant the opportunity to live in one unit while generating rental income from the additional unit(s), or offer an investor the potential for multiple income-producing units.With today's financing options, qualified buyers may be able to use a portion of anticipated rental income when qualifying for certain owner-occupied investment loans, subject to lender guidelines, appraisal, lease/rental documentation and other requirements.The property is ideally situated on a corner lot directly across from a preschool. Water is already on the property, with power and sewer available at the street, offering valuable infrastructure for future development.Whether you're looking to build your own home with additional rental income, create a multi-unit investment property, or capitalize on the growing need for housing in Wells, this property offers flexibility and significant potential.The proposed two-lot subdivision and duplex development are subject to engineering, City of Wells approval, zoning, building requirements, utility requirements and all applicable governmental approvals. Buyer to independently verify development potential, permitted uses, utilities, financing options and rental-income qualification with the appropriate authorities and lender.
Location
State NV
County Elko
Area Wells Area
Interior
Fireplace No
Exterior
Exterior Feature Corner Lot
View Y/N Yes
View City
Others
Tax ID 002-594-002
Nearby Locations
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