Make up to 1,000,000.00 MILLION dollars *
INVESTMENT OPORTUNITY* !!!
New architectural drawings available.
Future development potential*:
• 4 unit condominium each unit 3 bed, 2.5 bath: Total SF: 8133 SF
○ Unit A: 1860 SF @ 360 $/SF= 669,600.00
○ Unit B: 1869 SF @ 360 $/SF= 672,840.00
○ Unit C: 1980 SF @ 410 $/SF= 811,800.00
○ Unit D: 1994 SF @ 410 $/SF= 817,540.00
○ Common Area: 431 SF
• Total Gross proceeds: 2,971,780.00
○ Less initial investment @ 849,000.00
○ Less carrying cost, construction cost, interest, ect @ 900,000.00
• Total potential net PROFIT*: 1,222,780
Current status of the building :
• 4 units , FULLY occupied, all of them 1 bed +1 bath+ den
• Total building Size 3244 SF**
• Currently rented @:
○ Apt 1: 1375,- + utilities, landlord pays trash/water/sewer
○ Apt 2: 1400,- + utilities, landlord pays trash/water/sewer
○ Apt 3: 1400,- + utilities, landlord pays trash/water/sewer
○ Apt 4 1425,- + utilities, landlord pays trash/water/sewer
• Annual Gross income: 66,900,-
• Expenses (estimated) : water, sewer, taxes, insurance, ect : 15369,-
• NOI (net operating income) : 51,531
• Current Cap rate: 4.6%
STRICTLY SOLD AS IS !
*Not a financial advice, actual results might differ.
**According to tax records
*** pictures and plans for informational purposes only and might not present actual condition.