Description
Welcome to this great investment opportunity. This property consists of a 3 unit apartment building with an office and a 9 unit motel. Apartment gross income is $33,630 based on 95% occupancy and Motel gross income of $122,717 based on 80% occupancy for a total of $156,347 in gross income. Seller currently provides heat, hot water, and electric for two of the apartment units but is planning to install new furnaces in apartments and separate electric utilities as well. The current yearly expense for the seller is approximately $8400 and the Pro-forma is based on apartment tenants paying for their own utilities. There is also a single-family home that can be purchased as part of the deal but is not included as part of the listing.
Location
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$875,000
MLS# 202219153
Courtesy of: Crystal Coleman Realty LLC
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Courtesy of: McCurdy Real Estate Group, Inc Office phone: (518) 785-9900 ©2022 Global Multiple Listing Service, Inc. The data relating to real estate on this website comes in part from the Internet Data Exchange program of the GMLS. All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. Data Updated: 8th August, 2022 12:56 AM (UTC)
