BACK ON MARKET – not the Seller’s fault! Buyer had financing challenges.
Class C, 4-Unit, N-2R zoned property between Cold Springs and Elmwood Village being sold at a 9.6% Cap Rate. Two units receive public assistance, deferred maintenance includes two 30 year old furnaces. Structural reinforcement applied. Comparable properties have sold for an average of $481,833 comps available for review. Seller is selling below market value mindful of the deferred maintenance costs. Water tanks range in age from 2020 to 2024. PROS: Market rents $3,850 per month. Attic has enough space to be developed into a 5th unit with proper permits. Being sold AS-IS.
