Description
Amazing opportunity to purchase an income producing water front asset! 8 Apartment units are spread between 2 separate buildings. There are (5) 1 bed/1 bath units, plus (3) studio units that have all been recently upgraded with new paint, flooring, carpet, cabinets, appliances, and more. New roof in 2020, new well, and other recent major upgrades. Each unit has a full bathroom and private entrance. On site parking lot and individual electric meters allow for ease of management, plus recently upgraded and inspected private well and septic systems result in low utility costs. Value add opportunities exist with creating AirBnb STRs (highlighting the water front), on site laundry systems (room to install in maintenance areas), increasing to market rents (details in attached document, OM), and switching utilities into tenant's names. Currently, units are leased with several leases expiring in late 2023. Income projections are shown at full occupancy with market stabilized rents. Contact LA directly for offering memorandum showing detailed financials, property projections, and more. Buyer's agent to verify all information.
Location
IDX provided courtesy of Realcomp II Ltd. via site owner and the originating MLS listed above, ©2022 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Updated: 3rd June, 2023 7:48 AM (UTC)
Listing Agent: Kevin Johnston
Listing Office: Casablanca Real Estate Company, LLC
