New Listing
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.
Details
| MLS # | 3628460 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 2 |
| Listing Provided By | Allie Bear Real Estate | Dawn Roberta Bear |
Features
| Zoning | R-2 |
|---|---|
| Acreage | 0.17 |
| Property View | Yes |
Exterior
| Exterior Features | Corner Lot |
|---|
Other
| List Aor | Elko County Association Of Realtors |
|---|
Taxes
| Property | 104 |
|---|
Area Information
| State | NV |
|---|---|
| County | Elko |
| City | Wells |
| Zip Code | 89835 |
| Area | Wells Area |
| Subarea | Wells |
| Community Name | Railroad Addition |
| Listing VS Median (in Railroad Addition) | |
Price: $29,000 low | high Med: $1,000,000 On site: 2 low | high Med: 92 | |
Market Activity 89835
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Learn More About This Property
| State | NV |
|---|---|
| County | Elko |
| City | Wells |
| Zip Code | 89835 |
| Area | Wells Area |
| Subarea | Wells |
| Community Name | Railroad Addition |
| Listing VS Median (in Railroad Addition) | |
Price: $29,000 low | high Med: $1,000,000 On site: 2 low | high Med: 92 | |
