Description

The property is a 3 story brick building legally zoned for 6 units with 5 off street parking spots. The building is 2,800 SF with an additional 500+ SF of finished basement area.

Property was previously a group home, and all mechanical equipment, electric, and plumbing is in great shape and was well maintained. It is structurally in fantastic shape, and with minimal money could be rented as 5 or six small apartments.

An architect is currently working on plans to convert property into 3 larger units. A 2 BR first floor unit, a 2 BR second floor unit, and a 1 BR third floor unit.

Projected gross income with 3 unit floor plan is $35,000 per year in year one, in an area with increasing rents.