Attention Investors: This is a 4 Family, Brick Construction Property that is fully occupied at the moment with tenants. The building consists of 4 Apartments with (3) 2 Bedrooms and (1) 1 Bedroom.
The dimensions are the following: Lot Sq. Ft. 2,500 (25 x 100) & Building 3,116 Sq. Ft. (21 x 76)
Current Gross Income is currently $64,200. Current Total Annual Expenses equal $14,697. Current Net Income is $49,503.
Projected Gross Income could be $82,800, if the rent prices were to be adjusted to current market prices (e.g. 2 Bedroom = $1,800 & 1 Bedroom = $1,500)
Projected Net Income, after expenses ($14,697), would sum up to $68,103 Annually. Cap Rate of 3.6%.
Seller is motivated, open and willing to hear all offers!
