Well Maintained Three-Family in Richmond Heights

This three-family located in Richmond Heights is one block from Oak Knoll Park and has been very well maintained. The building features a large first floor two-bedroom unit with central air and hardwood floors, separate living room and dining room, large kitchen and private deck off the rear of the building. There are two true one bed apartments on the second floor with hardwood floors and a porch in back. Every tenant has their own parking spot in the three-car garage. The building has a two-year-old roof, almost all of the windows were replaced with vinyl windows, updated exterior meter box and electric panels, PVC plumbing, newer copper water lines, cedar storage units for the tenants in the basement. There are original wood doors and trim in good condition throughout the building. The first floor is currently rented for $900 with the rent being raised to $1,050 on 9/1/18 and $1,200 on 1/1/19. The second-floor units are rented under market rent at $700 and $640 (tenant paying $640 works on the property and cuts grass). Similar size one bed apartments in Richmond Heights rent for $700-$895. In January 2019 building will gross $2,540 a month and $30,480 annually with the ability to raise rents. This building would also be ideal for an owner occupant who could live in one unit and have the tenants pay the mortgage.

Paying buyers agents 2.5%