Beautiful Victorian building with 4 apartments, fully rented. Buy the property as a cash flow producing investment with a CAP rate of 15.6 %. The gross annual rent income is $54,600 and total expenses are $15,700 (tax, water, sewer and insurance) netting an annual income of $38,700. That is a return of 15.6 % before leveraging any financing! Or move into the top apartment yourself while keeping the other 3 rented. This brings the net income to $27,500 which still leaves well over $10,000 of income for you after the mortgage has been paid! This beautiful stretch of Highland Ave is surrounded by other gorgeous restored Victorian homes. Private parking lot for all the tenants.
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