INVESTORS: This five-unit, mixed residential / commercial building has a cap-rate of 6.8%, bringing in a gross rent of $7,100 a month (although this can be increased if the residential units are updated and the back detached properties designation changes). The entire unit is currently rented to a barber shop for $1,775 and a waxing studio for $850. The upstairs apartments are both two bed, one baths rented for $1,525 and $1,425. In the rear is an additional detached property that is currently used as a residential unit but can be converted into a commercial space (medical is approved zoning) for $1,525. All units have their own boilers and pay for their own utilities. The properties have 21-23 parking spots and are right on the corner of a major junction, so have plenty of curbside visibility. Total gross rent is $85,200 and expenses are $26,836. Included in expenses are the following: Professionals Fees ( Fire Alarm Inspection & Monitoring)
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List Price | $850,000 |
Property Type | Other |
Usable Sqft | 4,050 |
Number of Stories | 0 stories |
Parking Spots | 0 spots |
Year Built | 1970 |
Last Sold | Unknown |
Sold Price | Unknown |
APN # | 220006500002 |
MLS # | NJMX2006116 |
Property ID | 320161702 |
Lot Sqft | 16,117 |
Zoning | OBC1 |
Total Units | 4 |
Date Updated | June 19, 2024 |
Date Created | January 14, 2024 |
Unit # | Beds | Baths | Current Rent | Proforma Rent |
Unit #1 | $85,200 | $0 |
Timothy Christopher Crew an agent of . Lic #1433029
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2708 Wilshire Blvd #197
Santa Monica, CA 90403
California ## 01956587
Florida #CQ1065233
Robert Crawford
REAL ESTATE AGENT