Description
List price to be opening bid. Online Auction Only! Bidding begins Friday, April 29th & ends Wednesday, May 4th, 2022 at 12:00 pm. Redevelopment Opportunity in Hampden, 4,835 sf Building on 0.20 Acre Lot. Value Added Investment: The immediate neighborhood comprises single and multi-family residential properties. R-6 zoning permits 5 multi-family residential units on the subject site. Based on a building area of 4,835 sq. ft., the building is suitable for rehab into 4 or 5 residential units. Nearby townhomes that are of modest size and completely rehabbed sell in the $300,000-$400,000 range ($300/sq. ft.) If the subject property is purchased in the price range of $75-$100/sq. ft. of improvements, there is tremendous upward potential for a residential conversion. A purchaser can also explore the opportunity to create residential condominium units within the building. Property Description: The property consists of a rectangular shaped lot with a road frontage of 50' on Buena Vista Ave. and Sweet Air St (Rear Portion). The total lot area is 8,750 sq. ft. or 0.20 acre. The property is located in an R-6 residential zone. The property is improved by a one-story masonry building containing approx. 4,835 sq. ft. and constructed in 1967. It has been used as a social club and includes a commercial kitchen. The interior is currently divided into a series of meeting rooms along with rest rooms. Approx. 3-4 vehicles can be parked in the rear of the building.
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0BEDS
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0.2ACRES
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0BATHS
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01/2 BATHS
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4,835SQFT
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$41$/SQFT
Description
List price to be opening bid. Online Auction Only! Bidding begins Friday, April 29th & ends Wednesday, May 4th, 2022 at 12:00 pm. Redevelopment Opportunity in Hampden, 4,835 sf Building on 0.20 Acre Lot. Value Added Investment: The immediate neighborhood comprises single and multi-family residential properties. R-6 zoning permits 5 multi-family residential units on the subject site. Based on a building area of 4,835 sq. ft., the building is suitable for rehab into 4 or 5 residential units. Nearby townhomes that are of modest size and completely rehabbed sell in the $300,000-$400,000 range ($300/sq. ft.) If the subject property is purchased in the price range of $75-$100/sq. ft. of improvements, there is tremendous upward potential for a residential conversion. A purchaser can also explore the opportunity to create residential condominium units within the building. Property Description: The property consists of a rectangular shaped lot with a road frontage of 50' on Buena Vista Ave. and Sweet Air St (Rear Portion). The total lot area is 8,750 sq. ft. or 0.20 acre. The property is located in an R-6 residential zone. The property is improved by a one-story masonry building containing approx. 4,835 sq. ft. and constructed in 1967. It has been used as a social club and includes a commercial kitchen. The interior is currently divided into a series of meeting rooms along with rest rooms. Approx. 3-4 vehicles can be parked in the rear of the building.
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