Don't Miss This Fantastic Opportunity. Wonderful 50 X 120 Ft Building Lot On The Most Desirable And Best Waterfront Street In Lakeshore Village. Currently Occupying The Lot Is An Original 8 Plex Building In Need Of Major Renovation With 3 Vacant Units, Potential Gross With New Rents Is Approximately $128,000, Potential Net Approximately$...
Don't Miss This Fantastic Opportunity. Wonderful 50 X 120 Ft Building Lot On The Most Desirable And Best Waterfront Street In Lakeshore Village. Currently Occupying The Lot Is An Original 8 Plex Building In Need Of Major Renovation With 3 Vacant Units, Potential Gross With New Rents Is Approximately $128,000, Potential Net Approximately$ 101,000, For A 4 + Cap Rate. Building Has A New Roof, And 2 New Boilers. Attention Buyers. There Are 3 Ways To Buy This Property. 1) Buy Now, Knock Down And Build 2 Detached Homes As Is Happening On The Street Or 2) Buy Now, Hold Onto The Old 8 Plex, For 2-3 Years, Bring In Approximately $101,000 Net Per Year, Without Spending Money On It, Then Knock Down And Build, Or 3 ) Renovate The Entire Building And Get Higher Rents And A Vtb Mortgage! 8 Fridges, 8 Stoves, 1 Washer, 1 Dryer, 7X 1 Bedroom, 1X2 Bedroom, 8 Parking Spots. Gross Income (2021) & $98,822.04. Note: 2 Apartments Will Be Vacant.
Property Details
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For Sale Nearby
Sold Nearby
- 2,500 - 3,000 Sq. Ft.
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- 1,100 - 1,500 Sq. Ft.
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