AirLite

Seller financing available! Remodeling is currently underway, and the owner is looking to sell at any stage of the rehab. The current framing that has been completed enables various uses, from 5 apartments (zoning variance is required), to 4 apartments, triplex, duplex, down to extra-large single that can be used as an assisted living or group-housing of 12 bedrooms. Historically, this building was always multi-unit. The owner temporarily converted it to single-family to expedite permits, the new layout reflects its multi-unit potential. ARV $850k++ (income-based valuation) Property Overview: •     Size: 3,750 SF •     Zoning: RSA-5, previously multi-unit – strong case for grandfathering variance approval •     Current Status: Remodeling underway, available for sale at any rehab stage. •     Completed Work: Architectural plans, framing, new windows, rough plumbing, rough electrical, insulation (in progress). •     Remaining Work: HVAC, drywall, painting, flooring, kitchens, and bathrooms (Estimated Cost: $120K–$160K). Flexible Investment Options: •     5 Apartments (Variance Required): o     Units of 2BR/1BA, potential rents up to $1,500/month. o     Total projected rent: $7,300/month. •     Group Housing/Assisted Living (10-12 Bedrooms): o     Ideal for sober living, transitional housing, veteran programs, or assisted living. o     Projected rents: $7,000–$8,400/month.