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Let’s spend another day seeing what kind of house you can get if you’re willing to drive a little, save a lot. Thanks very much to Burbed reader Tracy Tea House for this magnificent Morgan Hill megaproject!
545 LIVE OAK Ave
Morgan Hill, CA 95037
SQ. FT.: 2,006
$/SQ. FT.: $449
LOT SIZE: 3.28 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Country English
YEAR BUILT: 1946
COMMUNITY: Morgan Hill/Gilroy/San Martin
COUNTY: Santa Clara
ON REDFIN: 107 days
THIS PROPERTY IS LOCATED IN COYOITE VALLEY. THE LOT SIZE IS 3.28 ACRES. THERE ARE FIVE HOMES ON THE PROPERTY. TWO OF THE HOMES ARE LEGAL, THE OTHER THREE ARE LEGAL NON-COMFORMING. ALL OF THE HOMES HAVE SOME UPGRADES. OWNER LIVES IN THE FRONT HOME. TOTAL RENT COLLECTED ON THE OTHER FOUR HOMES IS $5,200.TWO OF THE HOMES ARE RENTED TO FAMILY MEMBERS AT BELOW MARKET RENTAL RATE.
What an opportunity! There shouldn’t be any downside in buying five houses with permit issues and tenants related to the seller who expect subsidized rent forever!
“Bunus”: Large vehicle collection; negotiate possession.