Description: Lot #106 is 5,000 sq ft in size. It is zoned commercial or multifamily. The building thereon is 2,916 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 4 units as follows: 1.Ground Floor – Church 2.Rear of ground floor – One (1) one bed one bath apartment 3.Upstairs two (2) two bed one bath (2/1) apartments on the upper floor. Especially now with economic growth returning, whether acquired individually or together with the building on lot 108 to its north, this can be the ideal investment to deliver your desired ROI. For an investment of $450,000 and net rental income approximating $31,000, you will generate a cap rate of 6.9%.

 

 

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