Although currently zoned commercial, this property, located on the corner of a cute, quiet neighborhood, is home to a renter paying over $750 per month. The city of Kelso would prefer the property to revert to residential and this is something a future owner should be aware of. However, it is easier to go from commercial zoned to residential.At $45,000 and its current net operating income, you're looking at a property producing a 9% cap rate. With some work, anywhere between a low of $2,500 to a high of $15,000, this property's after repair value should approach a bare minimum of $85,000, if not much higher.Given the current zoning, cash buyers or hard money lenders are preferred. The property cannot be financed with conventional lending guidelines. Please note, buyers are fully responsible for completing their own due diligence before signing contract.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
