11 bedroom house for sale

Overview

Built by Novak Construction, completed in 1992 as a meeting, office and recreational space, now converted to a residential type (work/living) space and currently rented at $8335/mo

Prime Roscoe Village location corner lot with existing commercial construction all masonry 2 level building, a total of 7400 SQFT finished living space (3700 above grade/3700 below grade). Built by Novak Construction, completed in 1992 as a meeting, office and recreational space, now converted to a residential type (work/living) space and currently rented at $8335/mo. to a single tenant who pays gas, electric, and for 8 car parking in the rear. This premium sunny corner property boasts 3 lots with 3 separate pin numbers 70' X 120' measuring 8383.4 in total land SQFT. This site is ideal for a future development opportunity now offering three separate redevelopment options: 1) Adding an additional entire 2nd level to existing structure and converting to 3 huge 3700 SQFT rental type units. 2) Tear down existing structure, develop 2 or 3 new SFH's on the 3 separate lots. 3) Redevelop as an all masonry 4-duplex unit 3-story new construction (38'-6 height allowance), as per plans included with the sale. The RT-3.5 Re-Zoning Amendment has been completed with an approved plan offering 4 new construction 2930-3000 SQFT condos, with a total of 11, 718 SQFT finished interior space including all variances and 6-car parking garage. SEE ADDITIONAL DOCUMENTS FOR PLANS. The current building is rented as a live/work space, with 11 bedrooms, 4 large baths, on a month-to-month type lease. Annual NOI: $68, 999.