Description

Excellent Investment Opportunity on Prime 8th Avenue! This attached mixed-use 1-family property offers stable cash flow and long-term leases, making it an attractive investment opportunity. The property features a 20' × 50' building on a 20' × 60' lot with annual property taxes of $7,448. The 1st floor and finished basement are currently leased to an established hair salon at $2,300/month, with the lease secured through 2029. The commercial tenant is responsible for its own utilities, including water, electricity, gas, and heating, and also pays 30% of the property taxes. The 2nd-floor residential apartment features 3 bedrooms and 1 full bathroom and is occupied by a tenant paying $1,800/month, with a lease secured through 2030. The second-floor tenant is responsible for gas and electric expenses. The property currently generates $4,100/month, or $49,200 in annual gross rental income, with long-term leases providing excellent income stability and reduced vacancy risk. A compelling opportunity for investors seeking dependable rental income and long-term occupancy in a prime 8th Avenue location.

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Property information

Property type

Residential Income

Sub-type

Mixed Use

Year built

1928

Living area

2,000 Sq Ft

Lot size

0.03 acres

Annual taxes

$7,448

Price / Sq Ft

$845

Days on market

5

Zoning

R5B

Features

Appliances

Gas Water Heater

Heating

Hot Water · Natural Gas

Flooring

Hardwood · Tile

Parking

On Street

Roof

Flat

Construction

Brick

Basement

Finished · Full