For Sale $875,000 - Apartment Building
UNDER CONTRACT – Stunning 8 unit building built in 1928 with decorative clay tile roof, intricate brick and stone work with great curb appeal. The building has 6 one bedroom units and 2 two bedroom units. Building is currently fully leased and grosses $6,810 a month, $81,720 annually, expenses at $18,198 with a net income of $63,521. Renovations included new soft close cabinets, white quartz counter-tops in all kitchens, 4 piece stainless steel appliances. New exterior entry doors, new interior doors, trim, and casing. New bathroom including contemporary tile with vanity, mirror, vanity light, accessory kit, bathtub and toilet. Installed modern ceiling fans in all living rooms and bedrooms. Ikea lighting in dining rooms and kitchens. Exterior safety and accent lighting. Custom-cut 2″ wood blinds in all windows. New shelving in all closets. Refinished hardwood floors. Custom built storage space for tenant storage in basement. All new PEX water supply lines, PVC waste lines, PVC drain lines throughout, Installed four new water pumps in basement. New 2 ” copper main water service connection from city water supply into building. New commercial exterior meter bases, weather-head, and service drop. All new 200 amp service panels, code compliant wiring, receptacles. All new light fixtures and electrical finishes. LED lighting including water-proof light fixtures over shower in bathroom areas. Interior common area lighting includes modern flush mount lights on all landings and chandeliers in both stairwells displayed for street view. Replaced all existing windows with double-hung, vinyl insulated windows. Renovation also included white reflective TPO membrane over a layer of ½” insulation, .045 mil TPO roof. Installed new 5″ gutters and down spots on entire building. Two new decks were installed. Professionally landscaped.
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