Historical Overview:

This charming and handsome six unit came on the market and while it was smaller than what we were looking for, the location was supreme and it became our office! Three unit turnovers along with a heating system install will have this building fully occupied by April, 2024. Once the weather warms, we will give the facade a bit of love and restore this gem to her former glory.

Next Stages of Development:

• Three unit turnovers
• Office heating system
• Exterior cleaning, painting and signage.

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Financials: 

Property Type - Multi Family / Mixed Use

Total Units - 6

Unit Mix - 5 two bedroom units, 1 commercial unit

Purchase Price - $225,000

Renovation Budget - $120,000

Stabilized Annual Rent after improvements - $105,000

Stabilized Value - $850,000

Projected Stabilization - Summer 2024

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