In addition to the main apartment bldg, there are 4 exterior rented storage units (included in the NOI calculation). One apartment needs additional renovations and another vacant unit (5th unit) also needs additional renovations. The 5th unit can be either leased as an apartment, or with a commercial use (corner unit, main level of the bldg). This property is being sold within a portfolio of 2 other residential rental properties. The "estimated" cost to complete the two vacant units and some miscellaneous work on the bldg is $75,000. All 3 (this one & 2 others) must be bought together. The total combined listing price for the portfolio is $900,000. The projected net operating income for the portfolio is $60,379 resulting in an estimated capitalization rate of approximately 7%. The MLS numbers on the other two properties are: 3952773 6003582

Listing courtesy of Tyler Donegan Duncan Real Estate Services, Inc. ?



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