Description: Lot #108 is 5,000 sq ft in size. It is zoned commercial or multifamily. The building thereon is 3,453 sq ft under roof and is constructed of reinforced concrete. It is 28 years old and in good condition. There is adequate parking. Situate on busy East Street South next to the new Burger King, it is ideally suited for its current or other commercial and multifamily purposes. It is currently occupied by and generates rental income from 7 units as follows: 1.Ground Floor – Two (2) shops. 2.Upstairs on top of both shops there are two (2) one bed one bath apartments. 3.Upstairs at rear of the building there is one two bed one bed one bath (2/1) 4.Ground floor rear there is a one bed one bath (1/1) apartment 5.Next to #4 there is separate storage / warehouse space. Especially now with economic growth returning, whether acquired individually or together with the building on lot 106 to its north, this can be the ideal investment to deliver your desired ROI. For an investment of $500,000 and net rental income approximating $43,000, you will generate a cap rate of 8.6%

 

 

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