For Sale $1,250,000 - Apartment Building
UNDER CONTRACT – Striking 12 unit building built in 1929 features 10 one bedroom units and 2 studios that are currently leasing at $850 and $625 a month. The building was recently renovated and will be fully leased prior to sale. Fully rented the building grosses $9,775 monthly and $117,300 annually with projected 2018 expenses at $29,590 and a net income of $87,710. Renovation included installed new soft close cabinets, white quartz countertops, in-unit laundry. Units include 4 piece stainless steel appliance sets. Bathroom updates include contemporary tile in bathroom with new shower and tub set, vanity, mirror, vanity light, bathtub and toilet. There are modern ceiling fans in all living rooms and bedrooms. Interior doors, trim, and casing have been refinished. There is Ikea lighting in dining rooms and kitchens. There is exterior safety and accent lighting, custom-cut 2″ wood blinds in all windows, closet organizers, new shelving and closet rods in all closets. Hardwood floors were refinished. Custom built storage space for tenant storage in basement. Entire building dry-walled and re-plastered. White reflective TPO membrane over a layer of ½” insulation and .045 mil TPO roof was installed. Building has twelve new ac condensers, four new electric furnaces were installed and the remaining existing HVAC was serviced. All new double-hung, vinyl insulated windows were installed. All existing electrical components were replaced with new commercial exterior meter bases, weather-head, and service drop. All new 200 amp service panels, code compliant wiring, receptacles and switches. All new light fixtures and electrical finishes. New wiring in all kitchens, bathrooms, basement. Interior common area lighting includes modern flush mount lights on all landings, exterior has two spotlights per entry door to illuminate building exterior and architectural detail. New 2 ” copper main water service connection from city water supply into building. New PEX water supply lines, PVC waste lines, and PVC drain lines throughout. New vent stacks and plumb water services for in-unit laundry. Professionally landscaped.
This building can be purchased individually or as a package with:
12 Family at 5000 Mardel/3805 Hereford 63109
8 Family at 3539 Lawn 63139
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