This mixed-used property has a ton of potential to be a money making machine. With a current gross rent roll of $44,400, with an easy potential gross rent roll of $60,000+ and with low taxes ($11,500), this could be an safe 11%+ cap rate! The building is composed of 3 retail stores on the lower level and 2 HUGE 2 bedroom apartments spread out on the 2nd and 3rd floor. The structure has overall good bones and charming 1920's construction. The upper apartments are in need of some cosmetic TLC but the layout and anatomy of the apartments lead to such potential for so much more income. Rents are on a month to month basis and unadjusted for 40 years. Please reach out for more information and a break down of the rentals. Such a good investment to lead to retirement or to add to your income. Neighboring property towards north ave is available for sale as well.
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.
