Developer next door built up two floors and made best use of the UNUSED FAR. This building is fully detached and is on a wide street. This property has 4370 UNUSED FAR. Apartments are in good condition. LOT 25 x 95 Building 21 x 45 FULLY DETACHED RENT PER MONTH Ground FL $2000 (was $2400) -- 2bed 1bath 1st FL $3100 -- 3bed 2bath 2nd FL $2800-- 3bed 2bath -- Empty 3rd FL $2800 -- 3bed 1bath =$10,700 x 12 $128400 ANNUAL EXPENSES $3300 Insurance $3000 Water $5560 Gas/Heat $5700 Taxes =$17,560 NOI $110,840 4.4% CAP -- GROUND FLOOR LEASE ENDS APRIL 2022 +OTHER TENANTS ARE MONTH TO MONTH -- ROOF+WATER HEATER WAS DONE 10YRS AGO -- BOILER DONE AUGUST 2020 Residential FAR 3.44 Facility FAR 6.5 FAR as built 1.60 Allowed usable floor area 8,170 Usable floor area as built 3,800 Unused FAR 4370
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