This Beautiful 17 units features (3) 3bed 2bath Units (9) 2bed 2bath Units (3) 2bed 1bath Units (1) 1bed 1bath (1) Studio with 1bath apartment. The first 12 units are abnormally large with living room, dining room, plenty of closet space and a separate kitchen. Based on completion numbers, the property should generate $23,050/mo after renovation. Thats $276,600 per year. If you put in individual furnaces & individual hot water tanks, conservatively, you would have a back end value of $2.3 million with a cap rate of 9%. Property needs full gut renovation with plans and permits to be city compliant. Numbers are ProForma. Court case present, plans and permits required.

Based on information submitted to MRED as of September 25, 2023 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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The NL Ferrata Team