This is a great opportunity for long term investment! Building is now in the Lealman Community Redevelopment Area! Zoned C2 this property comes with the main lot (a total of 3 city lots) that has frontage on 34th St. N. There is currently a motel on the commercial lots with several options. Option 1: Revive as an active Hotel with 11 units plus an owners unit all in good shape for a 17%+ CAP Rate. Option 2: Sober Living Facility and increase capacity along with a pool in the back. Option 3: Augment the existing units to longer term rentals or corporate housing. Option 4: Redevelop the parcel. Option 5: Non profit housing. All the units are semi-furnished or can be vacant and ready to be rented with minor updates. Also it is across from one of the US Opportunity Zones.
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.
