Charming home located 1.5 blocks from BYUI campus and one block from Porter Park. The home is a converted three-plex consisting of 5 Beds, 3 Baths, 3 separate units. The top floor unit is an updated 2bd/1ba with large picture windows opening up the inside of the home to the beautiful mature garden surrounding the home. Through the garage you find the entrance to the basement unit. A large family room leads to the 2bd/1ba living area. This home has an amazing amount of storage space. Behind the garage is a 1bd/1ba unit. This unit is also updated and has a sliding glass door that opens onto the back patio in a private backyard where one can enjoy more of the lush landscaping that surrounds this home. Heater oil is the heat source for the main home, electric heat is the heat source for the third unit behind the garage. Rents total $3,450 a month. Along with this home is a building lot adjacent to the home on the east side. This lot has been approved for a duplex new build by the City of Rexburg. This is a great opportunity for a family with students coming to school for the foreseeable future. The home to the west is a single student housing duplex. Across the street is a new apartment complex called Sundance. My original plan was to hold these two lots and continue to buy the homes on this quarter block until the time came to sell the land for a large complex to be built. Whether you are young and looking to buy and live in a unit and rent the other two, or you are looking to place some capital for tax benefit, or are looking to work towards a long term play in Rexburg real estate, this is a good spot to be. I would like to sell the two properties together and the rents should support the note on the home and a duplex could be built to support the other lot. This spacious 3200 sq ft home, built in 1972, sits on a 9000 sq ft lot and is priced at $485,000. The property offers ample living space and includes updated units with beautiful views of the mature garden and lush landscaping. This home not only provides a comfortable living environment but also presents a lucrative rental opportunity with its three separate units generating significant monthly income. Additionally, there is an attached plot of land measuring 8500 sq ft available for $90,000, making the total investment for both the home and the land $575,000. This adjacent lot has been approved for a duplex, offering further potential for development and increased rental income. This combined purchase is ideal for those looking to expand their investment portfolio in a high-demand area near BYUI campus. To aid in due diligence: the city does not want trailers on this lot. They will require high density be built (i.e. a duplex). The oil furnace can be swapped by Rexburg Heating and Air for $4k, already have a quote. The roof has 5 years left on it, I won’t be replacing it. There is no mortgage to assume, this is not a sub-to deal. Water, sewer, and gas have been covered every month out of rents along with a portion of the power costs, I charge extra during season peaks. Text Seth Bloomfield @ 480-815-2030 with questions or to schedule a call. Selling by owner because I’m an investor and most that look at this will be savvy in that way as well. Love my agent friends but trying to get this one done privately.
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