Great potential cash flow opportunity with this 5-unit, totally renovated apartment building with ample parking along Route 22. Formerly Louie's Coral Lounge, this property features its own water supply and sewage system as well as new wiring, a new heat pump with heat/AC, new plumbing, and new flooring, drywall, ceilings, doors and windows! It it currently 100% rented. 2 downstairs efficiency apartments each rent for $400/month. A lg 2 BR upstairs apt. with an oversized LR and eat-in kitchen rents for $600/month. One downstairs apt. rents for $500/month and a 5 BR/2 BA downstairs apt. featuring a very lg. living area rents for $800/month. All utilities are included. Gross rents = $2700 per month. Avg. monthly expenses w/ taxes = $809, providing an anticipated net profit of $1891/month.
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