NOT LISTED FOR SALE
34 Beds
29 Baths
-- Sq Ft
1920 Built

Last Sold December 01, 2023

Last sale price $450,000

117 Days on Market

About This Home

As of December 2023

This Beautiful 17 units features (3) 3bed 2bath Units (9) 2bed 2bath Units (3) 2bed 1bath Units (1) 1bed 1bath (1) Studio with 1bath apartment. The first 12 units are abnormally large with living room, dining room, plenty of closet space and a separate kitchen. Based on completion numbers, the property should generate $23,050/mo after renovation. Thats $276,600 per year. If you put in individual furnaces & individual hot water tanks, conservatively, you would have a back end value of $2.3 million with a cap rate of 9%. Property needs full gut renovation with plans and permits to be city compliant. Numbers are ProForma. Court case present, plans and permits required.

Last Agent to Sell the Property

David Thomas

Blue Door Dave Inc License #471020400 Listed on: 07/05/2023

Last Buyer's Agent

David Thomas

Blue Door Dave Inc License #471020400 Listed on: 07/05/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,512

Year Built

  • Built in 1920

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 3-Story Property
  • Storage Room
  • Unfinished Basement
  • Exterior Basement Entry

Bedrooms and Bathrooms

  • 34 Bedrooms
  • 29 Bathrooms

Additional Features

  • Lot Dimensions are 100 x 125
  • Heating System Uses Steam

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 17 Units

Building Details

  • Electric Expense $1,200
  • Insurance Expense $10,000
  • Maintenance Expense $5,000
  • Manager Expense $13,830
  • Trash Expense $3,000
  • Water Sewer Expense $6,000
  • Operating Expense $65,542
  • Gross Income $276,600
  • Net Operating Income $211,058

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,512

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Corridor-Exterior Entrance
  • Stories: 3
  • Year Built: 1920
  • Built Before 1978 (Y/N): Yes
  • Information: Code Compliance Reqd
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 29
  • Total Bedrooms: 34
  • Possible Use: Commercial, Multi-Family
  • Basement Description: Unfinished
  • Fire Protection: Fire Extinguisher/s,Smoke or Fire Protectors
  • Misc Inside: Storage Inside
  • Room: 4
  • Room: 2
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • List Price: 500000
  • Exterior Building Type: Brick

Garage/Parking

  • Indoor Parking: 6-12 Spaces

Utilities

  • Electric: Circuit Breakers
  • Heat/Ventilation: Steam

Condo/Co-op/Association

  • Manager Expense: 13830
  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 3000
  • Water Sewer Expenses: 6000
  • Janitor Expense: 6000

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 100 X 125
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity, Other
  • Board Number: 8

Multi Family

  • Net Operating Income: 211058
  • Insurance Expense: 10000
  • ElectricExpense: 1200
  • GrossIncome: 276600
  • Maintenance Expense: 5000
  • NumberOfUnitsTotal: 17
  • OperatingExpense: 65542
  • Expense Year: 2023
  • Type Multi-Family: Corridor-Exterior Entrance

Tax Info

  • Tax Annual Amount: 20512
  • Tax Year: 2021

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/01/2023 12/01/23 Sold $450,000 -10.0% --
10/31/2023 10/31/23 Pending -- -- --
07/05/2023 07/05/23 For Sale $500,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11822872

Midwest Real Estate Data (MRED)

APN: 21303020160000