Here is an opportunity for a talented and resourceful builder or contractor to build a brand new home in the lush hills of Mt Washington using the approved plans depicted in the renderings shown here. According to our math, if one buys this lot (which is 'ground-break' ready) for $399K, and then spends $400,000 to build this 1088 sq ft 3 bed 2 bath home, and then spends another $100,000 to convert the 400 sq ft carport to a 1 bed ADU, you would then be 'all in' at $900,000. You would then be able to rent out the ADU for approximately $2500 and the 3 bed 2 bath house for $5000, totalling $7500. There would still be two car parking in the driveway, plus there is plenty of street parking on Cedar St. In an environment as rustic as this, with these views, and with the brand new construction, it will be easy to rent these properties and have good cash flow. Plus, being that both units will be new construction, there is no rent control. Of course you could also turn around and sell the property. A comparable marketing analysis shows that if you sold it with the ADU in place, at today's market it would fetch approximately $1.4 million. After holding costs and closing costs that would be a profit of roughly $300,000 for an approximately one year project.