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189 1st #Lot 2 Wells, NV 89835
0.34 Acres Lot
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260012250
Annual Tax Amount $104
Lot Size 0.340 Acres
Acres 0.34
Lot Dimensions 0.34
Property Description
Build-to-Income Opportunity in Wells, Nevada Lot 2 offers an excellent opportunity to build a new duplex with the potential for both homeownership and rental income in Wells, Nevada. The seller's development concept is to construct a duplex on this lot, giving a future owner the option to live in one unit while renting the other, or to use both units as an investment property. The property is located on a corner with convenient access and is directly across from a preschool. Water is on the property, with power and sewer available at the street, providing valuable utility infrastructure for future construction. For a qualified buyer, rental income from the second unit may be considered by certain lenders when determining loan qualification, subject to the lender's specific requirements, appraisal, rental-income guidelines and other financing conditions. This creates the potential to offset a portion of the cost of owning a new home while building long-term rental income. The seller has completed the survey as part of the planned subdivision, with the engineer's work and final City of Wells approval still pending. This is an opportunity to secure a residential building site with a thoughtful income-producing concept already envisioned. Buyer to verify all zoning, permitted uses, duplex requirements, lot configuration, utility availability, subdivision status, building requirements and City approvals. Proposed development and rental-income potential are subject to all applicable governmental approvals and lender requirements.
Location
State NV
County Elko
Zoning R2
Direction Corner of 1st St and Wells Ave.
Exterior
Utilities Available Electricity Available, Internet Available, Sewer Available, Water Available
View Y/N Yes
View City, Rural
Building
Lot Description Corner Lot, Corners Marked
Water Public
Schools
Elementary Schools Out Of Area
Middle Schools Out Of Area
High Schools Out Of Area
Others
Tax ID 002-594-002
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition Agent Owned
Listed by Allie Bear Real Estate