1427 NW 2nd Avenue

Highlights:

• Lot Features: Corner Location, Corner Lot, Near School, Shopping Center, 1/2 To Less Than 3/4 Acre Lot, Less Than 1 Acre, In Residential Area, Fenced, Sidewalk
• Building Features: Landscaped, Room For Pool, Sidewalk, Light Traffic
• Gross Income: 173400
• Number Of Buildings: 1
• Bathrooms Total: 0
• Documents Available: Abstract, Personal Property Inventory
• Cooling: Central Individual A/C, Central Air, Electric, Humidity Control, Ridge Vent/Turbines
• Heating: Central Individual A/C, Central, Electric, Heat Strip, Heat Pump/Reverse Cycle
• Electric: 200+ Amp Service, 220 Volts, Separate Meters, 220 Volt
• Flooring: Tile
• Construction Materials: Insulated, Plaster
• Parking Features: Common, Free Parking, Guest, Shared Parking
• Security Features: Smoke Alarm, Smoke Detector(s), Fire Sprinkler System, Fire Sprinklers, Fire Alarm, Smoke Detector
• Insurance Expense: 7000
• Ownership: Corporation

Description:

4 lot portfolio. 9 unit building with parking on a 12k SF lot produces $14.45k per month in actual rent. 3 platted lots sit on the same block, bringing the site to 30k SF / 0.69 acres under uniform 3000 Multi-Family General zoning. Actual rents $14.45k monthly $173.4k GPI. OpEx $19.3k. NOI $154.1k. Mix: two 2bed 2bath, two 2bed 1bath, four 1bed 1bath, one efficiency. RM-20 research allows 11 additional residential units on this vacant land, 4 stories, parking of 1.25 to 1.5 spaces per unit, and 45% lot coverage. Potential rezoning due to nearby transit stop can add additional units. Upgrades include: new roof, impact windows and doors, updated 220 electric, full sprinkler. Interior reno includes new tile, appliances, and cosmetics. Request the Offering Memo for additional information.

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Listing ID: B26077350