Builable lot in Old Town. Great property with lots of potential Located in the heart of Old Town, this property is currently divided into 2 units. They are currently rented for $1,300.00 and $1,350.00 per month. The leases are month to month. Options for the property: 1. Keep the property rented for now and hold for long term investment. 2. Build a new single family home. We have drawings completed to tear down the existing house and build a four level single family home. The plans will need to be updated for code changes. The VAR has previously approved the demolition of existing house and construction of new home but the approval has expired so the VAR will have to approve again. Divide the unit into condos. We already have the drawings completed for this. The legal work still needs to be completed. My attorney has started the process but has not completed it yet.
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