*click image to start slideshow
-7 Unit apartment building with fully furnished bar for sale.
-Building is 7,223 sq ft and is located in Lemay on Broadway just 1 mile from the River City Casino.
-Currently 5 apartments are rented for $475, $425, $425, $425, $425, all to long term tenants. 2 vacant apartments are rent ready.
-Bar generated $90,000 in net income in 2015
-The building comes with a fully furnished bar with coolers, keno, TVs, tables, chairs, glassware, cash register, etc. The only items not included are the pool table and juke box.
-This would be ideal for someone who would operate a bar and have additional rental income coming in from the apartments or the bar could also be leased out to a tenant.
-The bar space could also be converted to additional apartments, an office, store or other retail space.
Current monthly income with 5 of 7 Apartments rented – $2,175
Monthly income with 7 apartments rented – $3,025
Current Annual income with 5 of 7 apartments rented – $26,100
Annual income with 7 apartments rented – $36,300
Expenses (Including bar, utilities paid by owner):
Monthly:
Taxes – $417.92
Insurance – $208.85
Electric – $452.23
Gas – $330.50
Trash – $201.00
Water – $13.11
—————————-
Total Monthly – $1623.61
Annually:
Taxes – $5,015
Insurance – $2,506.20
Electric – $5,426.76
Gas – $3,966
Trash – $2,412
Water – $157.32
——————————
Total Annual Expenses – $19,483
Potential Net Annual Income With 7 Apartments Rented: $16,817
Annual net income with 2015 bar income included: $106,817
Asking $169,000
Paying buyers agents 2.7%
Please do not disturb the tenants
[mappress mapid=”166″]
Search the MLS below using the city, postal code, address or listing id of the desired property.
