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Listed by Rod Clermont of RE/MAX Innovative Properties
14 Units in two buildings!! Not many investment opportunities like this come along. Cap Rate calculation at over 10!!! Gross current annual income of $183,480; Estimated Net Operating Income (NOI) of $91,740.00. There are two buildings on one lot and one deed, A 6 and 8 unit building with a total of 14 units. . They may be bought separately or together. The City Assessment and taxes are based on a combined tax card with the two building, 14 units on a half acre lot. Tax amount quoted in listing is for both properties. Plenty of parking. Professional managed. Buildings one unit shy of 100% occupied with written rental agreements and lease in place. Most are TAW with a few of leases. The one vacant units is being renovated and expected to be rented in the next few weeks upon completion. The heat is included in rents. Electric is separate. New Boiler in 181 South in 2020 All the units were converted from tenant controlled thermostat to landlord controlled... See attached for actual expenses and projected rent roll. (The income calculation are based on current lease income with the one vacant unit as estimated rent. Most of the tenants are guaranteed rents with rental assistance and government subsidized.) Brokers please see non-public remarks for showing instructions.

Property Details of 181 South & 19 Chase Street

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Copyright 2021 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NEREN. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated June 24, 2021.

 

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