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38
$860,000 Sale
Listed 3 hours ago
435 Gene Lee Road
· 3
· 2
· 5
· 1349
Key Facts
Key facts for 435 Gene Lee Road
Property Type
House, Apartment,Farm/Ranch House,Manufactured (certificate exch),Mobile Doublewide w/Land,Single Detached
Parking
Additional Parking,Attached Carport,Carport,Common,Driveway,Electric Gate,Gravel,Guest,Private,RV Access/Parking,RV Carport,RV Gated,Secured 5 garage
MLS #
21417432
Size
1349 sqft
Basement
No
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
2008
Maintenance Fee
-
Description
Income-Producing Property with Room to Grow! Explore the income potential of this versatile 17.281-acre property, featuring an ag exemption, two ponds, cross-fencing, a private well, and multiple income-producing assets, including three apartments, an 8,000-square-foot shop, and RV storage with cove...red and uncovered spaces. The property includes a 3-bedroom, 2-bathroom, 1,302-square-foot manufactured home with an in-ground pool, carport, a 30-by-40-foot insulated shop, and an additional 750-square-foot shop. The manufactured home, pool, and smaller shops are owner-occupied, but estimated rent potential is around $2,500 per month. A separate, approximately 8,000-square-foot insulated and conditioned shop includes two bathrooms and offers potential for commercial use, with estimated potential rent of $3,500 per month. The apartment area includes two 2-bedroom units and one 1-bedroom unit. One 2-bedroom apartment is leased for $1,350 per month, and the 1-bedroom apartment is leased for $1,250 per month. The second 2-bedroom apartment could potentially rent for $1,350 per month. RV storage provides another income stream, with 24 uncovered spaces offered for $50 per month and 18 covered spaces offered for $85 per month. With the manufactured home, large shop, all three apartments, and all RV spaces rented at the stated rates, this property has the potential to generate over $12,000 per month in gross rental income before expenses, vacancy, and other costs! There’s also potential to expand income by converting covered RV spaces into apartments or adding tiny homes, subject to feasibility and applicable approvals. A unique opportunity to combine acreage, existing rental income, and multiple avenues for future growth. Rental figures and income projections are estimates and should be independently verified. There are several different gated entry points that provide individual access to the different sections of the property.
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Listing courtesy of: Monument Realty