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Calling all investors, contractors or anyone looking for a fall/winter project...opportunity knocks in desirable Sandy Hill! This solid concrete block building sits on an extra deep 148-foot lot with possibility to build or develop the back of the property. Proper parking lot lines could be added to the back of the property to collect additional parking fees, or its easily turned into a family backyard. Currently used as student rentals with a total of 13 rooms, this property is technically a triplex with a non-conforming 4th unit. Unit 1 is 4 bedrms. Units 2, 3 & 4 are all 3 bedrms. Two tenants are month-month, one Tenant is on a new 1-year lease, and one Tenant is on a new 8-month lease (the other rooms are vacant). If the property was fully occupied the estimated annual income would be $103,020 with estimated expenses of $25,715, estimated NOI of $77,305 (estimated cap rate of 5.5%). Updates include roof 2020, all windows 2021. 24 hours' notice for showings on Tenant occupied units. (id:24093)
Listed by Edmundo Roa of EXP REALTY

Property Details of 250 Russell Avenue

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"Based on information submitted to CREA as of October 17, 2021 . All data is obtained from various sources and has not been, and will not be, verified by broker or CREA.  All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing."

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