New Listing
Description
Unique Investment & Development Opportunity in Wells, Nevada Take advantage of a unique opportunity to create two income-producing properties on one parcel in Wells, Nevada. This price is for Lot 1. New Parcel number TBD. The seller has had the property surveyed and is working toward splitting the parcel into two separate lots, with the engineer's work and final City approval still pending. The seller's proposed plan is to build a duplex on each lot, potentially creating four residential units in total. This could provide an owner-occupant the opportunity to live in one unit while generating rental income from the additional unit(s), or offer an investor the potential for multiple income-producing units. With today's financing options, qualified buyers may be able to use a portion of anticipated rental income when qualifying for certain owner-occupied investment loans, subject to lender guidelines, appraisal, lease/rental documentation and other requirements. The property is ideally situated on a corner lot directly across from a preschool. Water is already on the property, with power and sewer available at the street, offering valuable infrastructure for future development. Whether you're looking to build your own home with additional rental income, create a multi-unit investment property, or capitalize on the growing need for housing in Wells, this property offers flexibility and significant potential. The proposed two-lot subdivision and duplex development are subject to engineering, City of Wells approval, zoning, building requirements, utility requirements and all applicable governmental approvals. Buyer to independently verify development potential, permitted uses, utilities, financing options and rental-income qualification with the appropriate authorities and lender.
Details
| MLS # | 260012251 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 3 |
| Listing Provided By | Allie Bear Real Estate | Dawn Bear |
Features
| Zoning | R2 |
|---|---|
| Acreage | 0.17 |
| Property View | Yes |
Exterior
| Lot Features | Corner Lot |
|---|---|
| Road Responsibility | Public Maintained Road |
| Fencing | None |
Utilities
| Utilities | Electricity Available, Internet Available, Phone Available, Sewer Available, Water Available |
|---|---|
| Sewer | Public Sewer |
Location
| Senior Community Yes / No | No |
|---|
Taxes
| Property | 104 |
|---|
Area Information
| State | NV |
|---|---|
| County | Elko |
| City | Wells |
| Zip Code | 89835 |
| Area | Elko |
| School District | Out Of Area |
| Elementary School | Out of Area |
| High School | Out Of Area |
| Listing VS Median (in 89835) | |
Price: $29,000 low | high Med: $2,520,570 On site: 3 low | high Med: 190 | |
Market Activity 89835
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Learn More About This Property
| State | NV |
|---|---|
| County | Elko |
| City | Wells |
| Zip Code | 89835 |
| Area | Elko |
| School District | Out Of Area |
| Elementary School | Out of Area |
| High School | Out Of Area |
| Listing VS Median (in 89835) | |
Price: $29,000 low | high Med: $2,520,570 On site: 3 low | high Med: 190 | |
