TURN-KEY, 9 Unit, Fully Rented, High NOI. RECENTLY UPGRADED, yielding exceptional rent. 16,000+ SF Prime Real Estate consisting of 7 Apartments, and 2 Commercial Lease Spaces. The tenant pays all utilities: Water; Sewer; Electric & Heat (the water is separated/metered separately), except for 2 apartments which the lessor pays Water/Sewer ($139.33 per month total lessor water & sewer bill, included in NOI calculation). The two commercial spaces are located on the ground level and are NNN (tenant pays: Water, Sewer, Electric, Heat, A/C, Maintenance, and Proration of Taxes, Insurance & Trash). The commercial leases have annual rent escalation in the leases, and unit identified as #8 in MLS will increase to $800 on January 1, 2016. All of the apartments have been renovated/upgraded over the past 3 years, w the exception of one unit w long standing lessee (apt 152 3W), all upgrades performed w an eye toward future cost savings when changing tenants, including more costly ceramic tile & hardwood flooring in the high traffic areas - selected for its durability & ease of cleaning, while some other areas are carpeted. Engineering plans have been developed to create 3 addition apartments within the commercial unit which has a storefront on Harmony St., offering potential for even higher return on the space (currently leased by shirt printing business). Each commercial space has its own valuable storefront, one addressed as 150 E. Lincoln Hwy (successful Bakery lessee), and one addressed 151 Harmony St., YES, the building spans the entire depth of the block, creating 2 separate street addresses for one massive building. Being the former "Palace Movie Theater", the interior was a wide open clean slate when developed into apartments, allowing for logically organized apartment layouts without any privacy breaches (not all chopped up), as opposed to the common less valuable result of squeezing multiple units into a less accommodating footprint. All common areas are protected by a centrally monitored smoke detector system ($10,000 installation). All apartments have electric baseboard heat, the commercial spaces have gas heat & Central Air, lessee maintained. Pre-approval Letter or POF required prior to showings. Note: the advertised annual maintenance costs includes supplies
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