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Remarkable opportunity to own this fully occupied 8 unit, income producing property in the Capital City, with great rental history. Newly paved parking lot allows tenants to not have to worry about where to park. There are SIX one bedroom units, and TWO spacious studio apartments. Five of the 8 units have been completely renovated and electric has been separated in ALL but two of the units. LEASES in place for the five which have been newly renovated, the other three units are MTM. Newly re-built front porch, and all updated common areas with refinished floors, new exterior doors, and freshly painted which only adds to the VALUE and strong rental demand of this building. The gas fired boiler is well maintained and helps to keep the heating costs down. A Coin-Op laundry and laundry room were recently installed. Let's get to the bottom line: the CURRENT GROSS INCOME is $85,764., with total annual expenses (including taxes) being $23,440., leaving you with an actual NET INCOME of $62,323 annually, with a STRONG cap rate over 9%. The on-site manager takes care of landscaping, snow blowing and day-to-day maintenance. Potential to increase revenue by creating storage units, and renovating the last three units. Opportunities such as this don't appear every day. This is your chance to add a well-maintained, income producing building to your portfolio. Listing agent is related to Seller.

Property Details of 110 N State Street

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Listed by Debbie Kelley of BHHS Verani Londonderry

Listing Sold by Coldwell Banker RB
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