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Historic, beautifully and uniquely updated, meticulously maintained adobe rowhouse in picturesque, up-and-coming Old Town Florence. This one-of-a-kind property has two units: the larger one (1700 + sf) is two bedrooms and one bath, and the other (1100 + sf) one bedroom and one bath. Both units were completely rehabbed in 2017, including all new everything: metal roof, interior and exterior stucco, high ceilings, Milgard double-pane windows, interior and exterior doors, plumbing, electric, heat pumps, luxury vinyl flooring, tile, granite countertops, custom lighting, farmhouse sinks, custom fixtures, free standing clawfoot tubs, walk-in tiled showers and more. The property encompasses the entire block and contains three separate yards with patios, outdoor seating, privacy fences and... walls, cactus gardens with automatic drip irrigation (new PVC system in 2022), a large pergola, and a good-sized adobe outbuilding which could be updated and used as an office, she shed, man cave, or storage. There is also a large, metal-roofed, two-car garage. Current owners live in the one-bedroom half of the property and have been employing the two-bedroom side as a successful short-term rental with income between $20,000 and $30,000 a year, with clear potential for more. An Airbnb "guest favorite" with consistent five-star reviews and loyal guests who return year after year, the two-bedroom side can accommodate six, and the one-bedroom side can accommodate four or five. A savvy investor with decent marketing capabilities could easily leverage a direct-rental system, increase bookings, and keep Airbnb's current take. The property is also zoned for commercial use, which adds to its vast potential. You will not find another property like this in Florence or the general area, where 1300 sf, charmless cookie-cutter "starter" homes on tiny lots are selling for $300,000 plus. Schedule a visit to see this beauty. You'll be blown away. Current furnishings negotiable, making this a fabulous turn-key investment opportunity. *Either kitchen could be converted to a nice bedroom if property not used as a duplex. |
