Renovated 4 Family In Clifton Heights

Completely renovated 5 family in Clifton Heights. All units were recently updated and construction was completed in 2020, the building was originally a 4 family and additional 5th unit was added in the basement. Units feature modern kitchens with updated cabinets, stainless steel appliances, in-unit laundry with appliances, new flooring, lighting and fans. Bathrooms are updated throughout with new vanity’s, toilets, flooring, shower systems. There are recently added mini-split heating and cooling for 3 of the units and the other 2 have HVAC. The electric panels, furnaces and water heaters were updated when renovated and there are PVC plumbing stacks. The building is currently fully leased. When fully rented this building generates $4,600 a month and $55,200 annually. Annual expenses $7,175 so if fully rented the building would generate an annual net operating income of $48,025 which is an 8.2 % cap rate.