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Updated about 3 years ago on .

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Driveway Easement on Multifamily, Hurt Value or Not?

Matthew Lindsey
Posted

Hi, I'm looking at a property that is 2- 1 acre lots with 3 duplexes on it. Without the property actually staked out it looks like 2 duplexes are on 1 lot and the other is on the other lot. However, the whole 2 acres with the duplexes are only accessible through a 20' Ingress/Egress Easement that conveys. I will attach a image of the lot, in red is the Easement and in blue is the approximate lot lines. My questions is does the land only being accessible through a driveway easement hurt the value and if so how bad? This would be a long term hold property for me more than likely. I haven't been in this long enough to know how much a easement hurts the value when it comes to investment property. Is a property with an easement harder to sell? This is an off market property. Thanks