7 well-designed studio apartments, each spanning approximately 350 SF.
Complete with full kitchens and bathrooms for tenant convenience.
Situated on a generous 12,000 SF lot, offering ample room for tenants.
Includes 13+ off-street parking spaces, ensuring hassle-free parking.
Income producing storage shed on the East end of the property.
Within a mere 2-minute walk to the 92nd and Federal bus stop, providing excellent transportation options.
Quick access to a multitude of employers along the Federal thoroughfare, enhancing tenant convenience.
Value-add program includes an operational overhaul with professional third-party management.
Unit renovations and exterior overhaul, including fresh paint and landscaping enhancements have been completed.
Mastered meter for gas and electric, allowing for efficient utility billbacks.
Well-maintained boiler system in excellent condition.
GE electrical panels without any issues.
Good condition roof and newer double-paned vinyl windows.
Property is in excellent condition, allowing for a plug and play cash flowing asset.
In place (NOI) of approximately $51,509 per year, accounting for a 5% vacancy and $4,937 per unit in expenses.
Favorable financing available with lender quotes available on request
Cheap and smooth transactional costs with ILC, appraisal and clear title already on file.