Listed by Hedenberg Real Estate Company
$550,000
Broadway Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Units 8
Occupancy 87%
Broker Co-Op Yes
Buildings 1
Stories 3
Ownership fee simple
Multifamily | 8 Units
Marketing description
This existing 8-unit apartment building offers an attractive value-add opportunity. The unused portion of the parcel has the potential to be converted into a parking lot, or you could pursue plans with the town to construct an additional multi-family building.
Currently, all 8 units are occupied, some of them are with rents slightly below market rate, generating a gross rental income of $84,840 annually.
At full market rent, this property has the potential to generate up to ~$100k per year in gross rental income.
Listing Contacts
Listed by Hedenberg Real Estate Company
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