Former retail building built in 1948/1966 in need of serious repairs or demolition. Mason walls are in useable condition and can be rehabbed but roofs are all shot. This was previously a storage facility.
Currently tenant occupied paying $625 (and usually a $60 late fee) but the tenant is current on all rent payments. Excellent opportunity to acquire a property for redevelopment and cash flow while you wait for permits. A management company can stay in place for a new owner for ease of collections ($99/mo). Tenants have been on a month to month lease for the last 12+ months.
Tons of redevelopment in the area, both neighboring lots have recently been purchased for redevelopment. Rear lots that share a fence are already developed. No property tours or inspections without an accepted contract in place. Please do not disturb the tenants.
