1306 N Woodland Dr 2 Unit Apartment Building Offered at $406,132 CAD at a 7.29% Cap Rate Payson, AZ 85541

Rare investment opportunity. This well-maintained multi-family property features two existing homes on a level 0.20-acre, fully fenced and gated lot zoned R3-MH, allowing up to three homes on the property. Current rental income is $2,200 per month, making this an excellent investment or owner-occupant opportunity. The beautifully landscaped property offers mature shade trees, meadow views, low maintenance, and a quiet neighborhood just minutes from downtown, schools, shopping, and restaurants. The Main House offers approximately 640± sq. ft. plus 225± sq. ft. of covered porches, two new mini-split systems, a newer central propane furnace, and an airtight wood-burning stove. A pristine original 284± sq. ft. insulated 1957 mobile home has been incorporated into stick-built additions creating a bright and comfortable home with a modern eat-in kitchen, spacious living room, large bedroom with built-in wardrobe and drawers, full bathroom, inside laundry, screened porch, and beautiful meadow views. The Guest House/Studio is a stick-built approximately 240± sq. ft. completely remodeled in 2023. It features wood flooring, a new kitchenette and living area, a bedroom large enough for a queen-size bed, ¾ bath, mini-split heating and cooling system, a 15-gallon hot water heater, abundant natural light, and peaceful meadow views. Both homes live much larger than their square footage suggests. Whether you're looking for rental income, multi-generational living, or future development potential, this unique property offers exceptional value. Come experience this charming property tucked away on a quiet, tree-lined street in one of downtown Payson's most desirable neighborhoods.