DEVELOPMENT PROJECT. 3 INCOME PRODUCING HOMES ON LARGE LOTS SIDE BY SIDE. THIS SALE ALSO INCLUDES 11962 AND 11982 TELEPHONE AVE. TOTAL RENT INCOME IS APPROX 4000 PER MONTH FROM THE 3 HOMES. ALL TENANTS ARE ON MONTH TO MONTH. OWNER HAS TRACT MAP WHICH WAS APPROVED BY THE CITY TO DEMOLISH EXISTING AND BUILD 7 HOMES WITH LOT SIZES OF 7200-9400 SQ. FT. THIS APPROVAL HAS SINCE EXPIRED. CITY SAYS YOU CAN BUILD 7 BUT WILL NEED NEW APPROVAL. TOTAL SQUARE FOOTAGE OF ALL 3 LOTS IS 70,398. ABOUT 1.6 ACRES. ZONING IS RD 4.5. YOU CAN BE COLLECTING RENT WHILE GOING THRU APPROVAL PROCESS. PLEASE CHECK WITH CITY IF YOU HAVE DIFFERENT PLANS OR IDEAS.