4850 Stellhorn Rd

THIS PROPERTY IS FOR THE PERSON or INVESTOR WHO HAS THE VISION of what THIS PROPERTY COULD POSSIBILITY BE WORTH WITHIN AN ESTIMATED 24 month. This property may be worth as much as $350,000.00 or more if this property can become zoned commercial. There are gas stations 1/2 mile East & West of location. Makes sense that this Stellhorn location could become Commercial before other streets in area. This property is .92 acres but could be divided up to 3 individual lots now. City Planing may allow zoning for a DUPLEX,TRIPLEX, or a 4-Plex. ALSO! this property now has a 1 bedroom, 1 full bath, 1 large laundry room, living room with fireplace, sun room & basement. Main floor is 1080 sq.ft. Home had been vacant for 3 years and needed work. House is built solid and roof is in excellent condition. Property is presently being gutted all flooring and installing new sub flooring & wood laminated floor. Completely replacing furnace and installing AC. Replacing windows, and painting all rooms. Redoing kitchen & and garage floor. There is an average of approx. 27,000 vehicles passing this corner lot each day and located at an intersection with street lights. Also! has entrances off Reed Rd. & Stellhorn Rd. This property could be subdivided into 3 individual lots. It is now one lot of .92 acres, or possible could have a Duplex, Triplex, or a 4-plex. There are 1 gas station 1/2 mile each direct from property on Stellhorn Rd. Meaning this property could possibility be a CM1 commercial property within 24 months. Property then will be worth an estimated MIN. of $350,000.00. YOU may ask why present owner doesn't hold the property. WELL THEY COULD HOWEVER! owners are over 75 yrs. old and wife is not in best of health and may need an assisted living home. Also! family and grand children are grown and only 1 still lives in Fort Wayne. Owner had planned to attach another home to the present and use for an assisted home which would be allowed in the city and still remain as a single family home for tax purpose. However, Owners would prefer to retire to a warmer climate like Gulfport, Ms. or Hawaii. Seller is Realtor and knows what buyer could expect the property to be worth in the near future. Could be combined with boarding property to East on Stellhorn & property boarding to South on Reed Rd. for additional pricing.