Fully occupied, a multi-unit property containing 3 2-bedroom apartments, as well as 2 commercial/professional units, all rented to long-term tenants (commercial tenants include notary and doctor and have been tenants for more than 15 years each). All tenants pay their own electricity (all heat is electric).
Major renovations have been made to the property since 2011 including new roof and eavestroughs, replacement of 13 windows, replacement of front entry doors (for apartments), heating system for commercial tenants fully replaced, replacement of ductwork for fans and dryers, and full replacement of ceiling (roof) insulation.
Annual revenues are $48,000, annual operating costs $12,500 -- generating net annual revenues of $35,500 providing an unlevered cash return of 10% on asking price. Great investment opportunity!
- Asphalt shingle
Near Health Services:
- Medical center
Near Educational Services:
- Elementary school