8.5% CAP RATE. Completely renovated apartment building with 8 one-bedroom units. Each unit is approximately 500 square feet. New roof, windows, gutters and water heaters. All new paint inside and out, new carpet, flooring, appliances, cabinets, counter-tops, fixtures, blinds, trim - basically everything has been redone. Updates to plumbing and electrical too. Each unit has its own electric meter & tenants pay their own electric. Fenced side yard. Parking in the back for 4 cars and parking in front of the building for 3-4 cars. Lots of available street parking too. *Recently rezoned commercial which adds future value or possible condo conversion* Additional sources of income include adding coin-op laundry (area already designated for it) and storage within the building and/or yard. Sellers are licensed real estate agents. Total monthly rental income = $4.650. Selling agent receives a 3% commission.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
