Details for Apartment buildings for sale
There is room to add another $50k + in income by bringing rents up to date. So far only 18 units have been brought up to date in rent rate. There are 32 two bedroom apartments and 26 one bedrooms within 2 buildings. The greatest UPSIDE POTENTIAL is to sell off units individually as condos. The condo papers have been completed along with the study. The condo fees would be ninety dollars per year with room to spare (no pool, or other facilities that would need maintenance so condo fees will stay low). Always fully leased with 4-5 tenants on waiting list at any given time. Total approx 50,000 sf for the two buildings combined. abut $400,000 spent recently on renos. Close to Fanshave college. 1 bedroom suites 26, 2 bedroom suites 32, total square footage for two buildings that make the complex is 50,000 square feet. Current net approximately $380K.