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Listed by Jennifer Jacobs • HomeSmart Advantage Realty
$ 668,000
Est. payment /mo
Active
183 Grove ST Fort Bragg, CA 95437
2,339 SqFt
UPDATED:
12/13/2024 09:05 PM
Key Details
Property Type Multi-Family
Sub Type 2 Houses on Lot
Listing Status Active
Purchase Type For Sale
Square Footage 2,339 sqft
Price per Sqft $285
MLS Listing ID 324094157
HOA Y/N No
Year Built 1982
Lot Size 6,851 Sqft
Property Description
Nestled in a desirable, walkable neighborhood in Fort Bragg, this unique duplex property offers the perfect blend of privacy, flexibility, and investment potential. Unlike traditional duplexes, these two detached homes are separately accessed by private driveways, providing the independence and privacy of single-family residences. With tenants already in place on 1-year leases ($2,300/month and $1995/month), this property is primed for immediate cash flow with a solid 6.2% cap rate. Each home was meticulously updated in 2024, with tenants responsible for utilities and landscaping, minimizing owner expenses. Gross annual income totals $51,540, with a net operating income of $41,089 after accounting for projected property taxes and hazard insurance costs of $10,450 combined. The front home features two stories with a one car garage, while the rear home offers a cozy single-level. Each have separate yard spaces. This versatile property is ideal for savvy investors seeking a strong return or buyers planning for future personal use, or accommodating a family member while retaining rental income. Located just minutes from downtown Fort Bragg's charming shops and restaurants, this is an opportunity to own two detached homes on one lot in a prime location.
Location
State CA
County Mendocino
Community No
Area Coastal Mendocino
Interior
Heating Wall Furnace, Wood Stove
Cooling None
Fireplaces Number 1
Fireplaces Type Wood Stove
Laundry Inside Area
Exterior
Parking Features Detached
Garage Spaces 5.0
Utilities Available Public
Roof Type Composition
Building
Foundation Concrete
Sewer Public Sewer
Water Public
Architectural Style Traditional
Others
Senior Community No
Special Listing Condition None
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