Description
Fantastic opportunity to expand your investment portfolio with this fully rented 7-unit apartment building with great proximity to Depot Town and EMU! This well-maintained building is set back from the road with plenty of parking for tenants and guests. Each unit has 2 bedrooms and 1 full bathroom furnished with refrigerator, range/oven, and wall air conditioner. Landlord pays for dumpster and water (single meter - most tenants charged an additional water fee) while the rest of the utilities are paid by the tenants. Shared coin-operated laundry machines are leased and provide additional income. Gross rents are currently $86,736/year with room to increase - see attachments for rent roll, proforma P&L, and additional information. Since all units are occupied, showings/inspections will only be allowed after an offer is accepted with listing agent present.
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14BEDS
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0.58ACRES
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7BATHS
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01/2 BATHS
Description
Fantastic opportunity to expand your investment portfolio with this fully rented 7-unit apartment building with great proximity to Depot Town and EMU! This well-maintained building is set back from the road with plenty of parking for tenants and guests. Each unit has 2 bedrooms and 1 full bathroom furnished with refrigerator, range/oven, and wall air conditioner. Landlord pays for dumpster and water (single meter - most tenants charged an additional water fee) while the rest of the utilities are paid by the tenants. Shared coin-operated laundry machines are leased and provide additional income. Gross rents are currently $86,736/year with room to increase - see attachments for rent roll, proforma P&L, and additional information. Since all units are occupied, showings/inspections will only be allowed after an offer is accepted with listing agent present.
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