Edmund apartments presents a unique opportunity to buy with seller financing. Achieve a higher return on your investment by structuring a deal that works for you. This property features one building with three single car detached garages bringing in extra income. All units are fully occupied featuring eight 1-bedroom and 1-bath apartments. In the rear is a detached garage that comes with the sale and was built in 1913. Total square footage is 6,556 over two floors. Current in-place rents are $939.12 per month for the one bedrooms. Onsite coin laundry and extra storage lockers in the basement. All apartments feature hardwood floors, tall ceilings and loads of original trim and doors. Roof was replaced in 2022. Hot water boiler was replaced in 2015.
The same ownership group also is offering a 9-unit for $725,000 located next door to the south at 1563 Charles Ave that can also be purchase on a contract for deed. Terms negotiable.
PROPERTY FACTS
Year Built: 1913
Units: 8 garden style apartments
Square Footage: Building total 6,556 SqFt
Zoning: Multiple-dwelling
Exterior: Stucco exterior
Heating: Hot water boiler system / Replaced in 2015
Air Conditioning: Window air conditioning units / tenant owned
Roofs: Flat roof on the 8-units / Replaced in 2022
Laundry: One set of coin laundry machines / seller owned
UNIT DESCRIPTION
8 - One Bedroom, One Bath - Approx. 600 Sqft. / Average rent $939.12
3 - Single Car Detached Garages
PROPERTY IMPROVEMENTS
Hallways and Common Areas Recently Painted and carpeted
Newer Hot Water Heater
Newer Hot Water Boiler (2015)
Exterior Stucco Patching (2022)
Newer Double-Hung Windows in Approximately 60% of the Apartments
Sidewalks Re-surfaced (2021)
PRICE: $650,000.00
