4 family home currently marketed at an 10.14% cap rate (at below market rents) two blocks from Niagara Street. The location of this property features tremendous potential as it's situated on the same block as Rich Products 3.62 acre development lot on the corner of Niagara and Ferry and within walking distance of all Niagara Street community revitalization developments projects. Property features 10 year old tear off roof (20 year shingle), separate electric service (no house meter, all circuit breakers), 4 boilers (age of boilers: 2016, 2016, 2014, 2017), 4 hot water tanks replaced in 2020, off street parking and separate laundry hook ups for all tenants. A current certificate of occupancy will transfer to the new owner, and new tentative tax assessment is $220,000. Actual gross income is $2,875/month, and potential gross income well over $4,000/month with cosmetic improvements.
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.
