About 3996 Teak St
Incredible opportunity awaits with this charming two-story single-family home on a corner lot. Property is Zoned for Multifamily and Multiple Units can be built here. Property is also located in a Transit Priority zone with an Expedited Application Process and Reduced Fees. Originally constructed in 1949, this residence features a delightful layout with 3 bedrooms and 2 bathrooms. The upper level, accessible via the main entrance on Teak St, offers 2 bedrooms, 1 bath, a spacious remodeled kitchen, and an inviting dining and living area with gleaming hardwood floors. Step outside onto the expansive outdoor deck, perfect for hosting gatherings and enjoying outdoor leisure. Convenience is key with a single-car garage and tandem driveway parking available. The lower level, with a separate entrance on 40th St, presents an additional 1 bedroom and 1 bath, providing versatile options for extended family living or rental income potential. What sets this opportunity apart is the ability to build Multiple Multifamily Units or ADU's. Property is located in a Federal Opportunity Zone providing Capital Gains Tax Relief to Failed 1031 Exchange Investors, Capital Gains from Business Sales, Stock Sales, and many other Capital Gains from Business Investments. Lot size spans of 6,600 sq feet, and includes alley access. Property Located in Community Lending Program-Discount rates up to 1.5% based on qualifying terms-available through select lenders. Don't miss out on the chance to own a home with endless possibilities for expansion and income generation!
