Description
What a Fantastic investment opportunity! $133K/Building is an unreal value, and the potential for an 11% CAP Rate is very realistic! The property consists of three row homes 2615, 2617, & 2619 E Fayette St. The units at 2615 & 2617 E Fayette are combined where 2615 is the entire top floor of both units set up as a residential apartment a 3 Bedroom 2 Bath apartment with full kitchen and living space, currently vacant and ready to rent. 2617 is the bottom floor of both units set up for office space, but could easily be converted to a residential apartment, it was previously used as commercial space, and has 2 adjoining offices, 1 bathroom, a full kitchen, and a large open space, the opportunities in this space are endless! There is plenty of opportunity to reconfigure as needed, it is currently vacant. Building 2619 is a 4 bedroom 2 bathroom row home with a standard configuration, and this unit is rented for $1850/month and the lease expires September 2025. The roof across all three buildings were done 3 years ago, the furnace in 2619 replaced 3 years ago, the furnace in 2615 is 4 years old, new windows were installed in the basement. The sewer line for 2617 was replaced last year and the lines for 2615 have been updated to PVC within the last few years. There is 1 electric meter for all three units and 1 water bill for all three, 2615 has a separate gas meter but 2617 & 2619 share 1 gas meter. Buyer to verify potential use. The possibilities with this unique property are endless.
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0BEDS
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0.07ACRES
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0BATHS
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01/2 BATHS
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4,746SQFT
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$84$/SQFT
Description
What a Fantastic investment opportunity! $133K/Building is an unreal value, and the potential for an 11% CAP Rate is very realistic! The property consists of three row homes 2615, 2617, & 2619 E Fayette St. The units at 2615 & 2617 E Fayette are combined where 2615 is the entire top floor of both units set up as a residential apartment a 3 Bedroom 2 Bath apartment with full kitchen and living space, currently vacant and ready to rent. 2617 is the bottom floor of both units set up for office space, but could easily be converted to a residential apartment, it was previously used as commercial space, and has 2 adjoining offices, 1 bathroom, a full kitchen, and a large open space, the opportunities in this space are endless! There is plenty of opportunity to reconfigure as needed, it is currently vacant. Building 2619 is a 4 bedroom 2 bathroom row home with a standard configuration, and this unit is rented for $1850/month and the lease expires September 2025. The roof across all three buildings were done 3 years ago, the furnace in 2619 replaced 3 years ago, the furnace in 2615 is 4 years old, new windows were installed in the basement. The sewer line for 2617 was replaced last year and the lines for 2615 have been updated to PVC within the last few years. There is 1 electric meter for all three units and 1 water bill for all three, 2615 has a separate gas meter but 2617 & 2619 share 1 gas meter. Buyer to verify potential use. The possibilities with this unique property are endless.
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