Sold!
$1,575,000
5
Beds
8
Baths
5,135
Living Area
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Property Description
Rare Find! Superb, hard-to-find 8-unit Multi-Family investment in a coveted Hyde Park Location! This offering is comprised of (2) adjacent Buildings a (5) unit and a (3) unit building. The 5-unit property consists of (3) one-bedroom apartments and (2) studio apartments. The 3-unit property consists of (2) one-bedroom apartments and a commercial space (beauty salon). The current gross income is $152,700 with annual expenses of $42,111. The NOI is 11,589 with a fantastic cap rate of 6.5%. This top location is steps to the commuter rail, bus stop, Cleary Square's fine shops, historic theatre, and amazing restaurants! Minutes from highway access. The seller also has architect's plans in hand for potential redevelopment into 23 new construction rental units with 23 car parking (ask broker for complete plans). THIS IS AN IDEAL 1031 EXCHANGE OR A NICE LONG-TERM INVESTMENT FOR A BUY-AND-HOLD & FUTURE REDEVELOPMENT POTENTIAL! THIS IS A VERY STABLE, RISK-AVERSE INVESTMENT OPPORTUNITY!
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Highlights
- Area: Hyde Park
- Property Class: Residential Income
- Total Rooms: 19
- Status: Closed
- Parking Spots: 15
- Property Type: 5-9 Family
- Year Built: 1920
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Additional Details
- Foundation: Other
- Road Frontage Type: Public
- Year Built Details: Approximate
- Zoning: Ns-2
- Lot Features: Corner Lot
- Total Number of Units: 8
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Golf, Bike Path, Conservation Area, Highway Access, T-Station
- Parking Features: Off Street
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $1,398,500
- Compensation Based On: Net Sale Price
- Tax Year: 2023
- Total Rent: $12,725
- Buyer Agent Compensation: 2.0%
- Facilitator Compensation: 2.0%
- Taxes: $18,699
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