7.62% Cap rate as of 3/1/23. 7 units total, 1 commercial store front unit and 6 apartment units. Adjoining commercial lot to the east of the building is included in the sale. All of the units have recently been renovated with new kitchen cabinets, countertops, new tile in bathrooms, new paint inside and out, new roofs on both buildings, upgraded electrical, new windows, and much more. Both buildings are concrete block construction, with cast concrete floors between first and second floors. All apartment units have window units for AC and baseboard electric heat. Store front unit has a mini split HVAC system. Building is 100% occupied and has the potential for increased rents with parking lot improvements. 622sqft garage is currently used for the owner's storage and maintenance room, this could be rented for additional income. Building is in great shape and is a wonderful opportunity for an investor looking for a turnkey income producing building. There is also a potential to build more multi family units on the included vacant lot per the seller with the purchase of one additional vacant lot that adjoins the property.
Listing courtesy of 24/7 FLORIDA REALTY.
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