Single Family Residence in Foley, AL

This 10-acre parcel is a BUILDER or INCOME PRODUCING OPPORTUNITY recently rezoned RSF-1 (min lot size of 30,000)! The entire property has mature trees and a quaint “UNNAMED” Creek (a tributary to Bon Secour River) adding privacy, beauty and tranquility, rarely found w/acreage in this area. The attached proposed plat map locates the creek and wetlands, showing approx. 90% of the land being dry and mostly buildable. Public utilities (water, ele & sewer) are at the street. Preliminary approval of the 3 lot subdivision is in hand, pending modifications to the existing culvert and driveway estimated to be completed by March 10, 2026. This includes lots (1,2 & 3). Lot #3 MLS# 391150 has (2) Doublewides, ea w/4bdrms /2 bths, 2018 models, rented long-term w/combined $43,500 annual cashflow w/min operating expenses. *RENTS have not recently increased. Tenants in home #1 (situated N-to-S), have rented for 4 ½ yrs and tenants in home #2 (situated E-to-W) have rented for 1 ½ yrs. A 4” well (likely suitable for 8+ homes) currently provides drinking water to the two existing homes. However, the well is located on Lot #2, necessitating either a new water supply to lot #3 or a shared well agreement, either option can be address at the time of offer and/or during buyers due diligence. Lot #1, (MLS#391154), offered undeveloped -$195,000, lot #2 (MLS #391153),is offered-$199,900 w/4” well, ea are 2.95 acres. A shared driveway running adjacent to Keller Rd will service each lot. Buyers to participate in 1031 exchange at sellers expense. PLEASE DO NOT APPROACH THE HOMES OR WALK THE PROPERTY W/O LISTING AGENT PRESENT! TENANTS SHOULD NOT BE DISTURBED. Buyer/Selling agent to verify all information during due diligence. Agent owned. Buyer to verify all information during due diligence.