Photo 1 of 1
$310,000
Sold on 8/12/16
| Beds |
Baths |
Sq. Ft. |
Taxes |
Built |
|
0.00 |
0 |
$6,455 |
1977 |
|
On the market:
91 days
|
View full details, photos, school info, and price history
6 units and a 1900 SF retail building on three parcels. in place 10% CAP with current cash flow at list price. Easy value-add play with rent bumps to derive 11.8% CAP rate for the 6 (1X1) residential units which are block constructed with pitched roofs. The 1900 SF commercial building, currently leased to a Tavern for $2,000/month, is situated on a parcel zoned C-2 making a variety of uses along busy Indian School road possible. Assuming the value of the 1900 SF commercial building to be at $85.00/SF, this puts the apartments at $30,000 per unit. In place cash flow with significant upside play for additional rent growth.
