Pride of Ownership evident on this Brick, 25 Unit, Condo Tax Status Asset. The property is located in the Asylum Hill Neighborhood. The building mechanicals are top of the line with the heating system being a 2019 Weil McLain high efficiency boiler. The hot water heater is a 2019 Heat Flo. Thermostats are networked and controlled through Sensi (Emerson on owners phone (you can regulate temperature. The building has a Fob locks system to support the security of the asset. The property has 12 security cameras. The roof was sealed 2 years ago. There are 2 sets of washing machine & dryers in laundry room lower level that receives income of @ $6k per year. The unit mix: 4: Studios, 1: 2 bedroom, and 20: 1 bedroom units. The asset features a workshop on the lower level. The electrical has been updated to circuit breakers and there are individual meters for each unit. The tenant base is solid with very low turnover. There is off street parking behind the building and the lot is fenced in. The lot was paved in 2018. 24 units have Modern flooring and if units have hardwood then they kept those. The units feature galley kitchen with matching refrigerators and electric stoves (they use the same brand unless they had delivery issues during covid. There is an assumable $1.2 million loan at 5%. LOAN DOES NOT NEED TO BE ASSUMED. No Seller Financing. There is a Value add opportunity by adding an extra unit in a storage area for $30k. This is not approved, it is just an opportunity to create more value or have an on-site management office. 5 units the landlord is paying electric for a higher rental amount with Immacare 4 units are Section 8. 6 units are Immacare. The remaining units are cash paying.
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