Most people don't have $7.5 million to spend, but if you did, you could either get a very very nice house, or an entire apartment building in South...
It consists of 13 two-bedroom units, 10 one-bedroom units and only one bachelor unit.It also comes with 12 garages, 22 surface parking spots, coin laundry, and lockers for each apartment.A bedroom in one of the units.
In terms of rental income, there's potential, but according to the listing this building has an"ultra low vacancy rate."This normally would be a good thing, but coming in as a new owner means most units probably won't be at market rate.at $3,413 for a two-bedroom and $2,620 for a one-bedroom, most potential owners want the market rate.in terms of rental rates so maybe the difference won't be too bad.
The listing notes the balcony railings, fire alarm, and lighting were retrofitted in 1996, the windows upgraded in 2002, the gas boiler was updated in 2010, the roof and parking area in 2007, the garage door in 2012, the hotwater tank in 2013, and the common area lighting was done in 2015.The windows, boiler, and hot water tank are all coming up to their expected lifespan, so you may be looking at a hefty bill in the next five or so years.
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