Nearby Schools
UnionElementary School
FarmingtonHigh School
Description
Excellent investment, 8.4 cap rate with current under market value rents, 9.5 cap with market value rents. 1700 Farmington Ave was originally a two unit house that had a large addition put on in the 1980s that expanded the property to four legal units. The two newer units are townhouse style with two bedrooms and one and a half baths each. These are high quality high end units with separate water meters, tenants pay their own utilities including their own water in both of those units. The other two apartments are one bedroom one bath and share one owner paid hot water boiler. This property has had a ton of recent improvements, including the gut renovations of both townhouse style units. Some of the other improvements include new roof, new windows, new doors, new siding, general carpentry, new sidewalks, new appliances, new chimney vent inserts, new boilers in the townhouses and new burner on other boiler, basement and chimney repointed, new ductless air conditioning, new gutters and new drainage system, all new updated electric, new outdoor LED lighting, two new sewer lines connected to street. Rents are currently far below market (easily raised by additional $500-$600 per month).
Location
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Listing Agent: Jason Saphire Courtesy of: Www.HomeZu.com The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2022 SmartMLS, Inc. Updated: 24th May, 2022 11:28 PM (UTC)
