Multi-Building Mixed-Use Property with 9 residential units (approx. 500 SF each) and 8 commercial units (approx. 600 SF each). Parking for 16+ vehicles in the rear.
2 buildings are fully electric with no boiler, 3 buildings have boilers, all new(less than three years old). All 5 buildings have water heaters that are no more than 2-3 years old. Roof was redone approximately 10 years ago. Structural work done on the bearing wall between the parking and alleyway (cost $200,000+).
No formal leases in place for residential tenants; some tenants have occupied units for decades. Consistent cash flow with minimal vacancy. Beauty Salon & Cafe have been tenants for over 30 years with no formal leases in place. Two commercial tenants have recently signed leases. Opportunity to formalize leases and increase rental income. Potential for capital improvements and rent growth.
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