Reduced and FINAL Price! - Due to cosmetic renovation needed for resident rent normalization!
Selling owner absentee, passive income laundromat equipped with paid off machines + 3-Story Mixed-Use Building REAL ESTATE
_ 5 Units (4 Residential + 1 Commercial)
_ Total Size: 6,822 Sq Ft (2,274 Sq Ft x 3 Floors)
_ 1st Floor(Retail): Laundromat w/52 Machines
_ 2nd+3rd Floor(Residential): 4 Units (2 BD / 1 Bath) -No Rent Control (Low Rent, High Upside Potential)
- Rent Roll :1Fl : $$4,500, 2Fl: $1300 + $1800, 3Fl $1200 + $1300 Total $121,000
_ Tax: $23,590 (2024), Insurance: $11,000, Water: $3,500, PSEG: 66 $3,000, Maintenance: $2,000
_ Property Income (Building): NOI $77,910
_ Retail Income (Laundromat): Gross Sales $360K, NOI $130K
**Total COMBINED NOI (Building + Business) : $207K**
This owner absentee business has been in operation for over 9 Years.
There are no competitors within 10 blocks of this business and City will only allow new laundromat on existing location.
A total of 54 Machines - 28 dryers and 26 washers purchased in 2015, all in good condition.