518 A Street, Needles, California 92363, Needles, 92363 - bed, bath
ACTIVE$240,000
518 A Street, Needles, California 92363
0Bed
0Bath
2,816Sqft
5,625Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multi-Unit Investment: The property includes three separate single-family homes, offering diversified income streams and a strong foundation for a rental portfolio.
Top Cons:
Historic Property Age: Built in 1910, the homes are over a century old, suggesting potential for significant deferred maintenance, outdated systems, and higher renovation costs.
Compared to the nearby listings
Price:$240.0K vs avg $190.0K (+$50,000)62%
Size:2,816 sqft vs avg 1,449 sqft90%
Price/sqft:$85 vs avg $13219%
More Insights
Built in 1910 (115 years old).
Condition: Built in 1910, this property consists of three homes, two of which are vacant and in severe disrepair. Images show exposed subflooring, missing wall sections, bare light sockets, and a partially demolished kitchen/utility area, indicating a need for substantial repairs and rehabilitation. While one unit is tenant-occupied and appears more livable, the overall condition of the majority of the property aligns with the 'Poor' category, requiring extensive renovation.
Year Built
1910
Close
-
List price
$240K
Original List price
$250K
Price/Sqft
$85
HOA
-
Days on market
-
Sold On
-
MLS number
IG25114444
Home ConditionPoor
Features
View-
About this home
This property includes three separate 2-bedroom, 1-bathroom single-family homes on two lots, offering great income potential. One home is currently tenant-occupied, providing immediate rental income, while the other two are vacant, making them ideal for experienced investors or buyers looking to renovate and generate additional cash flow. Each home offers its own space and layout, and with the right vision, this property can become a strong addition to any rental portfolio. Both these parcels are included #0186146080000 & #0186146100000 and comes with the lot in the back as well! Don’t miss your chance to turn this into a high-yield investment!
Condition Rating
Poor
Built in 1910, this property consists of three homes, two of which are vacant and in severe disrepair. Images show exposed subflooring, missing wall sections, bare light sockets, and a partially demolished kitchen/utility area, indicating a need for substantial repairs and rehabilitation. While one unit is tenant-occupied and appears more livable, the overall condition of the majority of the property aligns with the 'Poor' category, requiring extensive renovation.
Pros & Cons
Pros
Multi-Unit Investment: The property includes three separate single-family homes, offering diversified income streams and a strong foundation for a rental portfolio.
Immediate Rental Income: One of the three homes is currently tenant-occupied, providing immediate cash flow from the date of purchase.
Value-Add Opportunity: Two vacant units are ideal for renovation, allowing an experienced investor to increase rental income and overall property value.
Multiple Parcels Included: The sale includes two separate parcels and an additional lot in the back, potentially offering more land, flexibility, or future development opportunities.
Recent Price Adjustment: The list price has been reduced from $250,000 to $240,000, indicating a more competitive offering and potential for a favorable acquisition.
Cons
Historic Property Age: Built in 1910, the homes are over a century old, suggesting potential for significant deferred maintenance, outdated systems, and higher renovation costs.
Renovation Required: The description explicitly states that the vacant units require renovation, implying additional capital expenditure and time before they can generate full income.
Management Complexity: Managing three separate single-family homes with varying occupancy statuses and renovation needs can be more complex and time-consuming than a single rental unit.