2615-2617-2619 E FAYETTE STREET

Property Description

Don't miss out on this amazing investment opportunity! The property consists of three row homes 2615, 2617, & 2619 E Fayette St. The units at 2615 & 2617 E Fayette are combined where 2615 is the entire top floor of both units, and 2617 is the bottom floor of both units. Building 2615 is a 3 Bedroom 2 Bath apartment with full kitchen and living space, currently vacant and ready to rent. Building 2617 was previously used as commercial space, and has 2 adjoining bedrooms/offices, 1 bathroom, a full kitchen, and a large open space. So, there is plenty of opportunity to reconfigure as needed for either commercial or residential use, currently vacant. Building 2619 is a 4 bedroom 2 bathroom row home with a standard configuration, and this unit is rented for $1850/month and the lease is month to month. The roof across all three buildings were done 2 years ago, the furnace in 2619 replaced 2 years ago, the furnace in 2615 is 4 years old, new windows were installed in the basement. The sewer line for 2617 was replaced this year and the lines for 2615 have been updated to PVC within the last few years. There is 1 electric meter for all three units and 1 water bill for all three, 2617 has a separate gas meter but 2615 & 2619 share 1 gas meter. Rents could easily be attained between $1800 - $2000 per unit or more, there is a huge potential for a 9%+ Cap rate. The listing price is less than $200K/building, which is a great value for the area. Zoned C-1 . Schedule your tour today!