$289,000

Description

Multi Family Rental. Two exceptionally well maintained existing homes, one large .20 acre flat square lot, zoned R3-MH allowing THREE homes on this property, and there is definitely room for that! Current rent revenue is $2200 month. Lot is fully fenced and gated, landscaped with shade trees, and meadow view. A Cap Rate estimate of 9-10%, low maintenance costs, in a great neighborhood, close to downtown and Payson schools. This property at this price will not be on the market for long. The Main House is 1 bth/1 bdr approx. 640 sqft with approx. 225 sgft covered porches, two new mini splits, a newer(6 yrs)central heat propane furnace, and a wood burning air tight stove. It is a 284 sqft restored and updated 1957 insulated mobile home that has been incorporated into a stick built home with an eat-in modern kitchen, large living room, lots of light, large bedroom with built in wardrobe and drawers, inside washer/dryer, a full bath, a meadow view, and an attached screened in porch. The Guest House/Studio is stick built. Remodeled in 2023, with wood flooring, new kitchenette/ living room area, bedroom large enough for a Queen bed, and a 3/4 bath. This Tiny Home approx. 240 sqft has electric mini split heat and A/C, 19 gal HWH, lots of light with a bedroom window view of the meadow. Both homes ''live'' larger than their sqft. Must see this property to appreciate. Welcome to the neighborhood in the trees on this quiet back street in downtown Payson.