Property Description

Legal three-family with tenants paying all utilities except water, insurance & common electric. The top two units are three-bedroom, two-bath units. The ground-floor level unit is a two bedroom two bath. Property includes a gated driveway for convenient parking. Current tenants are cash-paying on time month-to-month tenants. Current rent roll is $7,000 monthly. Upside potential up to $116,016 calculated using present Sec 8 amounts paid with no utilities paid by the landlord; 3BR = $3,454; 2BR = $2,760. Kitchens and bathrooms are in good condition. The top two floors have pleasant forward-facing balconies as well. Three separate gas boilers and meters. 4 electric meters, one for each tenant and one for the common area. Total city-recorded building sq. footage is 3,444. Less hallways and stairs total apartment sq. footage is approximately 3,050 broken down as follows; 3BR's = 1.050sq. ft. and 2BR = 950sq. ft.. These are large sq. footage units with big bedrooms that accommodate king-size beds and additional furniture. R5 zoning. Landlord expenses include Insurance $3,000, common electric $600 annually, Water $600 per Q or $2,400 annually = $6,000. No basement - Utility room is rooftop.

Property Features

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