Listed by Windermere Van Vleet & Associates
$2,950,000
349 W Pine Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 22,036
Net Rentable (SqFt) 20,800
Units 20
Occupancy 100%
Pro-Forma Cap Rate 5.00%
Pro-Forma NOI $159,490
Price per SqFt $134
Broker Co-Op Yes
Year Built 1973
Buildings 5
Stories 2
Acreage 1.350
Zoning R-3
Parking Spaces 41 spaces
Parking Per SqFt 1.86
Ownership Surma Frank E Trust
Sale Condition 1031 exchange
Multifamily | 20 Units | $162,500/unit
Marketing description
20 unit apartment complex, recreation room, inground pool. Units are single level flats with 2 bedrooms, 1 bath, patio or deck. Current rental rates range from $775 to $1,150 per month. Rental rates produce monthly income of $19,496. Tenants also pay for water and sewer which ranges from $45 to $60 per month or approximately $944 per month. Each unit has a separate water meter. There are 5 two story buildings with 4 units in each building. Each unit has approximately 896 square feet. Each unit has 2 parking spaces.
Listing Contacts
Listed by Windermere Van Vleet & Associates
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