309 N Lake St Carlsbad, NM 88220

Charming property with exceptional versatility and income potential in the heart of town. The main residence offers approximately 1,300 square feet of comfortable living space with 3 bedrooms and 1 bathroom, complemented by a detached 1-car garage. Situated at the rear of the property is a separate approximately 444-square-foot guest house featuring a loft area, private entrance, and convenient alley access with dedicated parking. Currently generating $2,450 in monthly rental income, with the main home leased at $1,500 per month and the rear unit at $950 per month, this property presents an attractive opportunity for investors seeking immediate cash flow. At the same time, its flexible layout makes it equally appealing for owner-occupants looking for additional rental income, guest accommodations, or multigenerational living options. The shared laundry area is in the garage for added convenience. Well-loved and full of character, this property offers a welcoming atmosphere, established rental history, and plenty of potential for its next owner. Tenants may convey with the sale or be provided a 30-day notice, offering flexibility to suit a variety of buyer needs.