IMMEDIATE INCOME PRODUCER. Take adavantage of this oppurtinity to have all your rental income in one spot! There are 3 buildings (for the total sq ft listed above) in this transaction with the potential for a total of 20 (or more) tenants. Currently the property has all but 2 efficiency units rented and one side of the duplex is not rented. The Sellers live in the lower level of the main house and the maintenance guy lives in the upper level with no rent being collected on either, so 3 vacant units currently. This is an old Motel that has been rehabed and is at almost 100% occupancy. 3 more units need worked (#2 is in process ,#4,#19 and upper level of house) on and Seller has a waiting list of tenants. Reap the rewards of these Sellers and their hard work finally getting this property in a lucrative and desirable position. Cap rate is about 11% at full occupancy. The main building can be a VRBO, or can be lived in by the owner. The opportunities are endless. There is a laundry facility for the tenants in a common area as well as in the main building.This transaction also includes 204 E Front St included in this list price. The roof on the efficiency apartments was replaced just over a year ago.
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.
