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189 1st #Lot 1 Wells, NV 89835
7,405 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260012251
Annual Tax Amount $104
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 0.17
Property 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.
Location
State NV
County Elko
Zoning R2
Direction Corner lot on 1st St and Wells Ave
Exterior
Utilities Available Electricity Available, Internet Available, Phone Available, Sewer Available, Water Available
View Y/N Yes
View City, Rural
Building
Lot Description Corner Lot
Water Public
Schools
Elementary Schools Out Of Area
Middle Schools Out Of Area
High Schools Out Of Area
Others
Tax ID 002-594-TBD
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition Agent Owned
Listed by Allie Bear Real Estate