150 Magnolia Lane, Middletown, NJ 07748

$749,999
: 3
BD
: 2
BA
: 2,816
SqFt

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List Price: $749,999
Status: ACTIVE
Type: Single Family Residential
MLS#: 22631585
Beds: 3
Baths: 2
Living Area: 2,816
Region: Middletown (MID)
Year Built: 2007

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Property Description

A truly unique opportunity in Middletown! 150 Magnolia Lane offers an exceptional combination of existing income, flexible use and exciting future possibilities. The property currently features a single-family residence rented at market rent, a detached two-car garage rented separately, additional accessory structures, and a rear building previously approved and utilized as a dog kennel. The current owner has invested significant time and resources working with the Township and design professionals on plans to transform the former kennel building into an accessory dwelling unit. Township zoning approval has been obtained for the proposed conversion and second-floor addition, subject to applicable Affordable Housing requirements, deed restrictions, permits and other conditions. Concept plans envision a two-story residential unit with approximately 1,258 SF of combined space. For the buyer with a different vision, imagine creating your own private Middletown oasis—explore the potential for a beautiful new approximately 3,500 SF residence, complemented by a rear house and pool, subject to all Township zoning, approvals and permits. Whether you're an investor, owner-user, contractor, animal-care professional or buyer searching for a property unlike anything else on the market, 150 Magnolia Lane presents multiple avenues to explore. Existing income, substantial improvements in planning already completed, and tremendous long-term potential make this a property that deserves a closer look. Buyer to perform all due diligence regarding existing and future uses, zoning, kennel use/variance, accessory dwelling approval, Affordable Housing restrictions and any proposed redevelopment.

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Additional Information

Acres: 0.50
Zoning: Single Family, Variance in Place
Taxes: $10,123
Subtype: Single Family Residence
Lot Description: See Remarks
Year Built: 2007
Living Area: 2,816
Basement: Slab
Roof: Shingle
Heat Ac: Forced Air
Parking Driveway: Detached, See Remarks
Garage: Yes
Interior: In-Law Floorplan
Garage Capacity: 3
Stories: 1