The location offers many advantages with its proximity to essential amenities like Pearl Street, Church Street, the waterfront, universities and colleges, and the medical center. The setup of 16 one-bedroom condos with hardwood flooring and tile, along with off-street parking and laundry facilities, is attractive for tenants. The fact that the property is condominiumized is a significant advantage as it allows potential buyers to sell units individually, which can be a great selling point. Additionally, the ease of renting, managing, and maintaining the property makes it even more appealing. Properties in sought-after areas like this can indeed be rare finds. The location, amenities, and potential for future flexibility could make it a highly desirable investment for real estate investors. The current cap rate is 7%, with the ability to quickly increase the monthly rents within year one of ownership.
Heat typeBaseboard, Electric, Gas Heater, Gas - Natural
Water SourcePublic
SewerPublic
ParkingOff Street, Parking Spaces 11 - 20
Lot FeaturesCity Lot, Level, Sidewalks
RoofMembrane, Standing Seam
Finance
Sales Price$2,395,000
Real Estate Tax$39,670 yearly
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