Active

$244,900

Features:
  • 3 Bedrooms
  • 3 Bathrooms
  • 2302 sq ft
Overview
  • ID: MFROM674099
  • Bedrooms: 3
  • Bathrooms: 3
  • Size: 2302 sq ft
Property Details
Remarks
250ft of frontage on CR 53, Zoned Residential Office, Work downstairs and live upstairs - Needs some updating, but rentable as is. Seller getting $700 for each apartment - upstairs and down. This 2-story double apartment presents a compelling investment opportunity with several noteworthy features: 1. **Versatility**: The property offers flexibility for various uses such as renting out both apartments, flipping it for profit, living in one unit while renting the other, or utilizing the ground floor for a business while living upstairs. 2. **Condition**: While it requires TLC and some repairs, the property holds significant potential for improvement and increased value once refurbished. 3. **Zoning**: It is zoned for residential office, allowing for a blend of residential and commercial use. The downstairs area with a reception space and office plus a half bath is ideal for setting up an office while the upstairs or back portion could serve as living quarters or additional office space. 4. **Location**: Positioned on CR 53 (Duval Ave) in Madison, with convenient access to I-10 and approximately 20 miles from Valdosta, enhancing its appeal for both residential and business purposes. 5. **Adjacent Lot**: The inclusion of the vacant lot next door, totaling 250ft of frontage, expands the potential significantly. Clearing the trees opens up possibilities for development, such as constructing additional buildings for more rental units, parking spaces, or creating outdoor amenities. 6. **Additional Buildings**: The presence of a 400sf building at the back suitable for storage or conversion into another apartment, along with a smaller vacant washhouse, further enhances the property's potential for diverse uses or additional rental income. Overall, this property represents a versatile investment with the opportunity to generate rental income, capitalize on its commercial zoning for business purposes, and potentially increase value through strategic improvements and development of the adjacent lot.
Financial Considerations
Price:
$244,900
HOA Fee:
N/A
Tax Amount:
$906
Price per SqFt:
$106.39
Tax Legal Description:
BLK H LAKESIDE HEIGHTS S/D LOTS NO 13, 14, 15, 16, 17 OR 233/343 OR 814 PG 157
Exterior Features
Lot Size:
16248
Lot Features:
Cleared, Corner Lot, Highway, City Limits, Oversized Lot, Sidewalk, Paved
Waterfront:
No
Parking Spaces:
N/A
Parking:
Guest, Open
Roof:
Metal
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
3
Bathrooms:
3
Heating:
None
Cooling:
None
Appliances:
Electric Water Heater, Range, Refrigerator
Furnished:
Yes
Floor:
Tile, Wood
Levels:
Two
Additional Features
Property Sub Type:
Single Family Residence
Style:
N/A
Year Built:
1940
Construction Type:
Cement Siding, Wood Frame
Garage Spaces:
Yes
Covered Spaces:
N/A
Direction Faces:
West
Pets Allowed:
Yes
Special Condition:
None
Additional Features:
French Doors, Storage
Additional Features 2:
Only lease restrictions would be whatever you made them. Current tenant would vacate by closing unless buyer wants them to stay.
Map
  • Address
    589 S DUVAL AVE
Contact a Professional
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