Palmer & Royers Sub

About this listing

South of S. Woodland, North of Kinsman, West of Lee Road.

Look at this 6 unit commercial apartment building for sale! Each unit contains one bedroom, one full bath, kitchen, living room and private entrances. Front units have private balconies! 3 newer furnaces, 2 newer hot water tanks, some newer windows, updated electrical, glassblock in basement! Unit 1 $550 M2M lease, Unit 2 $480 M2M no lease, Unit 3 $450 M2M no lease, Unit 4 $450 M2M Lease, Unit 5 and 6 undergoing evictions and will transfer vacant. Tenants pay gas/electric. Owner Water/sewer. Solid Brick Building! Fenced in yard! Add this to your portfolio or start with a great income producing building! Attached in supplements are 2022 financials - property was purchased on 3/28/2022, started receiving rents in April 2022. In 9 months it generated over $20k or $2,219/month, Reflecting: $26,630 annually. Expenses were low so it generated nice income. Lastly, rents are still pretty low so there's potential to increase $50-100 per unit. Owner never increased rents after purchase. Units 1-4 have been there for a while, current owner does not have leases for units 2,3,4- all on month to month. Property never conveyed with prior leases. New buyer to construct new lease with tenants. Unit 1 on lease currently on month to month. Units 1-4 + 6 pay on time, great tenants. Units 5 will transfer vacant. Selling As is! Close to restaurants, shopping, parks, hospitals, downtown and more! Contact today to see or with questions.