Property Detail

Description

Building has 2 story portion that contains 3 units and an attached warehouse that has official designation as live-work space, which creates the 4th unit. Significant improvements over the years to upgrade the front 3 units (2 loft-style spaces and one 3-bed unit). Upstairs 3-bed unit has tall ceilings, hardwood floors, large updated kitchen and updated bath. Two loft-style units on first floor also have tall ceilings, updated kitchen and baths. Foundation was rebuilt in 2002 along with upgraded electrical service for all 4 units. No galvanized pipe, knob/tube wiring or old breakers. Warehouse was converted to Live/Work space and boasts over 2,100 sq feet, new kitchen and new bathrooms along with roll-up door and three historic large lockers with thick walls that can be great workspaces. Long back wall of warehouse was upgraded with foundation bolts, shear, and new siding. Both roofs were replaced within the last 6 years along with 2025 repairs to flat roof. Excellent cash flow as investment property or defraying expenses for owner-occupant. Strong CAP rate of 7.9% and GRM of 8.2 representing serious cash flow out of the gate.