Description
Brick four family, three store mixed use property just off McClean Avenue. The four apartments each offer an eat in kitchen, living room, two bedrooms, one full bath, hardwood floors and plenty of closet space. The three stores are equally divided and offer two long term tenants and one storefront on a month to month basis. This storefront is being marketed for rent simultaneously with the sale for $2500.00 per month and may have a new tenant prior to closing. Also perfect for an owner occupied business owner. The current rent roll $164k. The expenses including taxes, insurance, heat, water, electric approximately 42k per year. Currently a 6.1 CAP, but plenty of room to improve to over 7.1 CAP immediately. Owner is considering raising rents and securing all leases prior to sale to help the mortgage process. Three apartment rents can be increased by a minimum of $500-$600 per month each, currently under market. Paper street parking on the side of the building for the 2 stores
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
Description
Brick four family, three store mixed use property just off McClean Avenue. The four apartments each offer an eat in kitchen, living room, two bedrooms, one full bath, hardwood floors and plenty of closet space. The three stores are equally divided and offer two long term tenants and one storefront on a month to month basis. This storefront is being marketed for rent simultaneously with the sale for $2500.00 per month and may have a new tenant prior to closing. Also perfect for an owner occupied business owner. The current rent roll $164k. The expenses including taxes, insurance, heat, water, electric approximately 42k per year. Currently a 6.1 CAP, but plenty of room to improve to over 7.1 CAP immediately. Owner is considering raising rents and securing all leases prior to sale to help the mortgage process. Three apartment rents can be increased by a minimum of $500-$600 per month each, currently under market. Paper street parking on the side of the building for the 2 stores
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