This is an incredible, suburban, income-producing NINE (9!) unit property with a 14 car parking lot and a HUGE shed/barn-like structure (38x40) that is not currently rented (but could be for additional income). Also note, each unit has a storage locker in the basement, which is included in the monthly rent (again, these lockers could be income sources should the new landlord want to charge for them). Each unit also has a washer and dryer hookup (appliances are tenant-owned) in the basement. There are separate electric meters and hot water heaters for each unit (tenant pays electric and cable). The roof was replaced in 2019 and the two cast-iron boilers are only 8 years old. Gross operating income is $93,600/A. Expenses run approximately $36,000/A, including taxes, insurance, trash, water/sewer, cleaning/maintenance, credit checks, permits/fees, repairs, and utilities (oil & owner's electrical meter. Cap rate 8% with loads of potential for even higher ROI.
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.
