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Located at 718 Woodlane Avenue in the sought-after community of Edgewater Park, this spacious duplex presents a versatile investment opportunity. Offering immediate rental income, flexible living arrangements, and long-term growth potential, this property is ideal for both investors and owner-occupants. With a recent price adjustment, a generous lot, onsite parking, separate utilities, and a vacant unit ready for move-in, this duplex stands out in today\u2019s competitive market.<\/p>\n
Built in 1890, the property blends classic charm with thoughtful modern updates. Spanning roughly 2,252 square feet, it is divided into two separate units, each designed to provide privacy, comfort, and rental appeal.<\/p>\n
The first-floor unit is currently vacant and ready for immediate occupancy, offering an excellent opportunity for a buyer who wants to live in one unit while renting the other, or for an investor looking to add rental income quickly. The second-floor unit is occupied by a long-term tenant paying approximately $2,030 per month, providing stable cash flow from day one.<\/p>\n
For owner-occupants, this arrangement creates a potential \u201chouse hacking\u201d scenario. Living in the first-floor unit while renting the second can offset mortgage, taxes, and other expenses, making homeownership more attainable.<\/p>\n
The first-floor unit includes three spacious bedrooms and one full bathroom, providing ample living space for families, roommates, or tenants seeking extra room for home offices or guests. Natural light fills the rooms, creating a bright and inviting atmosphere. Buyers have the chance to personalize the vacant unit while immediately benefiting from its income potential.<\/p>\n
The second-floor unit mirrors the functionality and rental appeal of the first, with long-term tenancy demonstrating consistent rental demand in the area.<\/p>\n
A notable feature of this property is separate gas and electric meters for each unit, simplifying management, improving tenant accountability, and reducing operating expenses. Heating is provided by reliable natural gas radiators, while window unit air conditioning ensures comfort during warmer months. Gas water heaters and public utility connections further enhance convenience and reliability.<\/p>\n
The roof was replaced around five years ago, minimizing near-term maintenance concerns for buyers. The exterior sits on a sizable 0.39-acre lot, offering space for outdoor activities, landscaping, or future expansion. Onsite driveway parking adds convenience, a feature highly valued in multifamily properties.<\/p>\n
Edgewater Park is known for its suburban charm, easy access to transportation routes, shopping, schools, and recreation. The location supports strong rental demand due to its combination of affordability and convenience for tenants and commuting residents.<\/p>\n
From an investment perspective, this duplex offers immediate cash flow, a move-in-ready vacant unit, separate utilities, an updated roof, and a large lot. These features support both short-term income and long-term appreciation potential. Buyers can implement value-add strategies such as cosmetic updates, interior modernization, or exterior improvements to increase rental income and property value over time.<\/p>\n
The property\u2019s historic construction adds character and durable building quality that newer homes often lack. Larger rooms and thoughtful layouts attract tenants seeking stable housing, contributing to lower turnover and consistent occupancy.<\/p>\n
For new investors, this duplex offers an accessible entry into the rental market. Experienced investors can expand their portfolio with a property that demonstrates strong rental performance and future upside potential. The recent price reduction enhances affordability and makes the property an attractive investment for a variety of buyers.<\/p>\n
Ultimately, 718 Woodlane Avenue combines rental income, owner-occupancy flexibility, and long-term investment potential. With its spacious units, large lot, parking, separate utilities, reliable rental income, and recent improvements, this duplex is a practical and versatile addition to any real estate portfolio.<\/p>\n
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