$575,000
Welcome to 490-492 S Owens-an exceptional investment opportunity offering both immediate cash flow and long-term development upside. This well-positioned duplex sits on an expansive 153 x 120 lot, providing a rare combination of current income and future potential in a rapidly evolving area. The property is currently configured as a duplex with strong in-place rents of $1,350 and $2,500 per month, delivering consistent income from day one. Each unit offers functional layouts with solid rental appeal, making this an ideal asset for investors looking to stabilize and hold, or reposition for increased returns. Whether you choose to lightly renovate and raise rents, or fully modernize the units to maximize value, the flexibility here is a major advantage. What truly sets this property apart is the lot size and development potential. With over 18,000 square feet of land, there is a compelling opportunity to explore subdividing the lot and constructing an additional duplex (buyer to verify with local zoning and planning authorities). This opens the door for a variety of strategies-from house hacking and expanding your portfolio, to a full-scale redevelopment project in a high-demand rental corridor. Located in a growing and increasingly desirable pocket of the metro area, this property benefits from strong rental demand, proximity to major commuter routes, and easy access to shopping, dining, and employment centers. The surrounding neighborhood continues to see revitalization and reinvestment, making this a strategic hold for appreciation as well as income. As development continues to push outward and infill opportunities become more scarce, parcels of this size with multi-unit potential are becoming harder to find. Whether you're a seasoned investor, developer, or someone looking to secure a foothold in a high-growth area, 490-492 S Owens offers a unique blend of stability, scalability, and upside. No showings until under contract.
4
Beds
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2
Baths
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9954886
MLS
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ACTIVE
Status
492 S Owens St, Lakewood
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