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Lauren Forbus

laurenforbus@outlook.com +1(775) 815-1557

$ 29,000

Est. payment | -/mo

7,405 Sqft Lot

Save

$ 29,000

Est. payment | -/mo

Save

7,405 Sqft Lot

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

Nearby Locations

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Lauren Forbus

REALTOR® Lic# S.199028

laurenforbus@outlook.com

+1(775) 815-1557

3708 Lakeside Dr. Ste 200, Reno, NV 89509

189 1st #Lot 1 Wells, NV 89835

Lauren Forbus

Key Details

Location

Exterior

Building

Schools

Others

189 1st #Lot 1