Kelly Okimoto, Nick Sadek Sotheby's International RealtyPhone: (916) 335-3185
Email: [email protected]
Email: [email protected]
Investment Opportunity, many possibilities for developer. My grandmother built a convalescent hospital in 1959 and converted it to Day Care, licensed for 100 children, in 1971. The school is 3904sf with a paved parking area, a play area and off street parking. The .60 parcel, also includes a 1200sf, 3bd/1ba single family home with a fenced yard. Built in 1920, this home is considered historical, a craftsman style home and can not be demolished. It can be remodeled and it has a full basement with access from outside, so much can be done. A 1200sqft ADU would be allowed behind it. I had a virtual meeting with the City of Campbell Planning about the possibilities. The daycare is occupied with a tenant that pays $8000 a month, and the house has the potential to be at least $3500. That's $11,500 a month income while planning the development and applying for permits or lot splits. The property can easily be split into 2 lot, most likely 3 and very possibly 4 with one flag lot. If the lot is split they will all need to be residential and the daycare will no longer be allowed. A local developer may be able to do more! I have all the original plans and documents going back to the 1971.
