This property has been beautifully renovated to the brick with over $100k in capital improvements with an 8.5% CAP! In 2016 this property underwent over $xx in capital improvements, including: new/updated electrical w/160 amps for the commercial unit and 100 amps for each apartment, entirely new roof, all updated windows, new insulation + sheet rock, new plumbing (PEX) + water/sewer to the street and exterior paving/parking + gated exterior yard. There are new gas furnaces + hot water heaters in each apartment + sub panels.
The unit mix consists of: 5 1-bedroom units, 6 2-bedroom units + 1 commercial space. The Units are completely remodeled with new kitchens, baths, hardwood flooring throughout, CAIR, energy efficient gas heat and 100 amp electrical service each. The commercial space is approx. 850 SF and features ceramic tiles throughout, high ceilings, a private office and private bath + basement storage area. This unit also has 160 amp electrical, CAIR and energy efficient gas heat – paid by tenant.
The property also features surveillance cameras throughout and a hardwired fire system throughout + motion censored lighting throughout all common areas & exterior building lights. The basement is fully insulated w/sheet rock and a common laundry room for tenants, with owner owned washers/dryers (coin-operated). There is a permit for signage on the exterior of the property. The basement has private storage rooms that could be used by tenants – currently vacant.
This is a fantastic opportunity to own a truly turn key, corner lot asset with curb appeal that is close to downtown, highways, public transportation, offices/businesses and the new strip mall being built.
