144 Blue Friday, Multi-Fam with land development
|Catylist Listing ID:
|Number of Units:
|Building Size (RSF):
|Gross Building Area:
|Gross Land Area:
||$94,000 Per Unit
|Property Use Type:
||Cash to Seller
Overview / Comments
Multi-Family and development opportunity. 5 unit building with high rents producing an effective rental income of $49,500, with additional acreage and pre-approval for an additional 3 buildings. Much of the soft costs already done, land is ready to build.
May think 6.8% cap rate is low, however, the true rate is 8.6% for that building, plus additional 3 acres for sale with it for development.
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