Stunning 14 Unit Building in Clifton Heights

FEATURES

-Opportunity to purchase a stunning 14 unit apartment building located in Clifton Heights across the street from Clifton Park at the corner of Columbia and Clifton.

-Built in 1928 this building also comes with a large build-able lot adjacent to the building, the total lot size is 1/3 acre.

-The building consists of 11 one bedroom apartments, 2 two bedroom apartments and 1 efficiency.

-These apartments are rented under market rent for the neighborhood, updated 2 bedroom apartments rent for $750-$800, with updated 1 bedroom apartments renting for $650-$700 and efficiencies renting for $450-500.

-Currently 13 of the 14 apartments are rented for $6,604 a month and $79,248 annually.

-2015 Gross Income was $76,014

2015 Expenses

Repairs/Maintenance $20,452

(includes cleaning, trash, snow, pest)

lawn/Gardening     $615

Utilities                 $4,354

(includes electric, water, sewer, gas)

Taxes                     $7,037

Insurance               $5,356

Total                      $37,814

-With minor cosmetic updates and rented at market rent the apartments could rent for $9,100-$9,800 a month and $109,200-$117,600 annually.

Asking Price $840,000

Paying buyers agents 2.5%

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