YOU CHOOSE - HOLD AND RENT OR TEAR DOWN AND DEVELOP. This well maintained 8 SUITER is on a 75'x125' sloping lot with EXCELLENT CITY VIEWS! There is great redevelopment potential for 12 apartment units, 4 townhouse units or 3 infils. The building is consistently rented with rentals ranging from $750-$950 per month and room for rent increases. Annual income is $76,200 ($74,100 plus $2,100 for laundry). Annual Expenses are $24000. Net Income is $52,200. Great value at $156,250 per door! The current owners have owned the building for 14 years. Most units have been upgraded with new appliances and new windows and a new roof (4 years ago). Please do not disturb tenants. Viewings subject to an offer.
Property Summary:
Category:Other
Bedrooms:0
Bathrooms:0
Garage:0