This residential conversion is a unique opportunity for the real estate investor. 4 of the 6 units will be brand-new, fully permitted to-code, with modern white cabinetry, ambulatory bathrooms and durable vinyl plank flooring. The 2 existing 2nd story apartments are older but upscale and currently rent for $900/mth + utility each. One of them has a balcony and both will have newly installed windows. These two share a laundry room with coin operated machines, for additional income. The new units, 2 on the main floor and 2 in the basement, are projected to rent for $1,000/mth plus utility each. The new dwelling units will have in-suite laundry hook-ups. The entire flat roof-line has been professionally replaced with EPDM (2020). With a monthly rental income of $5,800, this investment will pay for itself and cash-flow monthly. Better yet it is practically fully renovated, so there won't be the maintenance or rehab costs required in most of the multi-unit inventory found locally. (id:2493)More details
Data was last updated November 25, 2020 at 03:45 PM (UTC)
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