Discover this exceptional, income-generating property that offers both stability potential for growth. This meticulously updated mixed-use asset features two fully renovated residential units (side-by-side duplex) + 3 commercial garage spaces currently leased to a long-term tenant all generating a total of $3,750 in monthly rent (well over 20% cash on cash)!
Each residential unit has undergone a comprehensive renovation, including: Brand new flooring + fresh paint, Updated light fixtures + modern hardware, Refinished ceilings + complete kitchen + bath remodels, New furnaces + hot water tanks, Updated electrical panels, newer sump pump, Numerous newer windows and Newer Roof! Exterior highlights include durable vinyl siding, private entrances, + a partially fenced backyard. The property also boasts a large parking lot,+ with two dedicated spaces per residential unit, + additional open land at the rear offering added privacy an ideal feature on a quiet dead-end street. Residential Unit B includes a refreshed basement w/ generous storage + is currently rented on a 1-year lease at $1,250/month starting May 15. Residential Unit A is rent-ready and currently vacant, offering the flexibility to place your own tenant. (A prospective tenant is already identified and ready to pay $1,000/month, if the buyer chooses.) The commercial component consists of 3 garage bays (used as an auto/mechanic shop) leased together at $1,500/month on a new five-year lease beginning June 1 with 3% annual increases. The garage also includes a private office, + the tenant who has been occupying the space for over six years has expressed interest in staying on as property manager for just $200/month, representing approximately 5% of gross income. Each residential unit is separately metered, + property will be delivered Point-of-Sale Compliant! With proximity to parks, major highways, healthcare facilities, retail, dining, + recreation, this is a highly desirable investment in a prime location!
- Age: Over 50 Years Old
- Architecture Style: Other
- Cooling System: None (Cooling)
- Heating System: Natural Gas
- Legal Description: 307 HICKS PTS OF HICKS SUBD VAC ST & ALLEY
- MLSID: 5117454
- Parking Spaces: 12
- Roof Type: Asphalt
- Roof Type: Fiberglass