This brick 2 unit building will require 100% rehab top to bottom. It is located in the Huffman Historic District and within the boundaries of a Community Reinvestment Area (CRA), making it exempt from real property tax that will be added due to remodeling of the structure for a period of ten (10) years (see CRA document in attachments). Included with the purchase is a full set of engineer-stamped blueprints to redevelop this building, each unit proposed as being 2 BR, 1 1/2 baths with first floor laundry rooms. After renovated rents projected at $1,500+/unit with all gas and electric seperate plus seperate water (2 water services exist now), sanitary sewer, storm sewer, trash and recycling. This plan leaves only minimal property tax expenses and routine maintenance to a newly renovated building.
Courtesy of Jeffrey B Peterson and Key Realty
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