For Sale $875,000 - Apartment Building
This attractive 12 unit building with unique architectural finishes built in 1928 was recently renovated and features 8 studios and 4 one bedroom units. Building is fully rented and grosses $7,125 monthly, $85,500 annually with expenses at $22,230 and an annual net income of $63,270. Renovations included new soft close cabinets, quartz counter tops, new refrigerators and stoves in all kitchens. There are new exterior entry doors, refinished interior doors and door casings. Bathtub and tub surrounds were re-glazed. There are new vanities, mirrors, vanity lights, bathtubs and toilets. Installation of high-efficiency LED lighting, modern ceiling fans in all living rooms and bedrooms, 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. 4 of 6 waste stacks replaced, 4 of 6 kitchen drain lines replaced. 12 water heaters replaced. Previous owner installed new 2 ” copper main water service connection from city water supply into building. Electrical components replaced with new commercial exterior meter bases, weather-head, and service drop. New 100 amp service panels, code compliant wiring, receptacles and switches. All new light fixtures and electrical finishes. Interior common area lighting includes modern flush mount lights on all landings. Previous owner installed new torch down rubber roof. all furnaces and condensers have been recently replaced. Replaced all existing windows with double-hung, vinyl insulated windows. Spot tuck-pointing as needed. Re-poured front steps. Professionally landscaped.
The SouthSide Investment Club does not verify property information. Do your own due diligence on all properties.