This offering includes two properties that will be sold together in one transaction. The asking price is per building. The total for both buildings is $450,000. The combined portfolio includes eight units located at 404 and 410 E Bruce Avenue, with four units per building. Each unit consists of two bedrooms and one bathroom. The entire portfolio is vacant and ready for leasing, upgrades or repositioning. Based on the U.S. Department of Housing and Urban Development (HUD) 40th percentile Special Area Fair Market Rent (SAFMR) of approximately $1,070 per month for two-bedroom units in this market, the annual potential gross income for all eight units at full occupancy would be approximately $102,720 (8 units x $1,070 x 12 months). This is a strong opportunity for an investor to acquire a multi-unit property in a single transaction and benefit from immediate income potential and value-add possibilities.
Courtesy of Brianna Thompson and Howard Hanna Real Estate Serv
Selling Office: Howard Hanna Real Estate Serv.
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