PRIME CORNER INVESTMENT PROPERTY. $229,080. income . 5.8% cap rate
CONSISTING OF 5 FAMILIES AND TWO LEGAL STORES PLUS 1,100 sq ft front FINISHED BASEMENT WITH EPOXY FLOOR, NEW ELECTRIC HIGH HATS THROUGHOUT for storage basement to a contractor., Excellent high traffic location, great commercial and residential property. The front professional office on King's Highway has been a Realty Estate office for almost 30 years and pays 1/3 Real Estate taxes. Stores pays additional taxes. The side store has its own entrance rented to an accountant and lawyer. They utilize the side store and the complete 900 sq feet rear finished basement as a closing room and files storage. The 5 family consist of (4) 2 bedrooms apartments and the first floor one-bedroom apartment. . The front half of the basement approximate 1100 sq feet has a street cellar door for easy access for the contractor .This is A REAL MONEY MAKER!!!! THE MAIN OPERATING COMPONENTS of the building are as follows: removed all old layers of roof and installed totally brand-new EPDM roof installed August 2021. 20 years guaranteed. Brand new high efficiency gas boiler & water heater February 2018. Brand new chimney smokestack from basement to the roof March 2019. Forty-three new windows and windows lentils were installed 3 years ago. Each apartment has breaker panel boxes, all upgraded electric services. The building was steam cleaned & pointed 3 years ago. In April 2021 the fencing and fire escape has been painted. The complete 3 story hallway was freshly painted September 2021. Building in excellent condition. If you desire an investment property without any problems this is truly a GEM! PROJECTD INCOME over $ 268,800 a year. Zoning R-7 C2-3 overlay. Don't pass up on this great opportunity!! POTENTIAL INCOME $268,000 next year. Return on investment approximately 6.7% .
All the apartments renovated last 6 yr We may consider holding a mortgage with at least $ 2.2 million dollar down payment.
Terms negotiable. Neighborhood highlights
Since 1987
