Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1910
Sq.Footage
7,710
NINE UNIT APARTMENT BUILDING WITH OFF-STREET PARKING LOT. This nine-unit multifamily property presents a strong opportunity for an investor seeking immediate rental income, substantial completed improvements and clear value-add potential. The building consists of seven one-bedroom apartments and two two-bedroom apartments, with five units currently occupied, including a long-term tenant in Unit 6. Most of the apartments have been fully renovated, while Units 7 and 8 are partially completed—already gutted and painted and primarily needing flooring, kitchens and bathrooms—allowing the next owner to finish the remaining work, lease the vacant units and significantly increase the property’s gross income. Approximately $70,000 has already been invested into the property, including extensive interior renovations, new water heaters throughout and a complete renovation of the common areas with new flooring, fresh paint, updated electrical outlets and refinished stairs. The building also offers separate electric meters and laundry rough-ins, creating additional operational and income potential. Also included in the sale is the private parking lot directly across the street, providing dedicated off-street parking for tenants and possible future development potential, subject to local approvals. With existing income, the majority of the renovations already completed, multiple vacant units positioned for completion and lease-up, and an additional parcel included, this property offers several ways for an investor to increase revenue and build long-term value.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
NO
-
Cooling
None
-
Heating YN
YES
-
Heating
Electric, Baseboard
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Frame
-
Parking
Parking Lot
-
Pool
No
-
Waterfront YN
NO
-
View
Mountain(s), City
Area & Lot
-
Lot Size(acres)
0.09
-
Lot Size(square feet)
4,130
-
Property Type
Commercial Sale
Price
-
Sales Price
$480,000
-
Tax Amount
$5,063
-
Financing Options
Conventional, Cash
-
Sq. Footage
7,710
-
Price/SqFt
$62
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
New Construction
NO
-
Sewer
Public Sewer
-
Water Source
Public
Schedule a Showing
Showing scheduled successfully.
Mortgage calculator
Estimate your monthly mortgage payment, including the principal and interest, property taxes, and HOA. Adjust the values to generate a more accurate rate.
Your payment
Principal and Interest:
$
Property taxes:
$
HOA fees:
$
Total loan payment:
$
Total interest amount:
$
Location
County
ALLEGANY
Elementary School
Middle School
High School
Listing Courtesy of Allyson M. Litten , Mountainside Home Realty
RealHub Information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. RealHub website owner shall not be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
AGENT
Danielle Bender
Call Danielle today to schedule a private showing.
* Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request.© 2024 FMLS.