St. Paul 4plex. Great opportunity for investors or owner occupant buyers looking for rents that pay the mortgage. Unit #1 is vacant with 2 bedrooms and ready for occupancy with an estimated rent value of $1,600 per section 8 payment standard. Unit #2 is an efficiency rented for $1,145 per month fully subsidized by Housing Support and exempt from rent stabilization. Unit #3 is a one bedroom rented for $750 per month with a long-term market tenant. Unit #4 is a one bedroom rented for $1,272 per month fully subsidized by Section 8 and exempt from rent stabilization. Occupy one unit and collect rents to pay your mortgage or rent out all 4 units for a high return. The property presents the opportunity for big cash flow with big upside, priced with room to build equity immediately. In addition to the 4 units, the building has a partially finished attic with plenty of ceiling height that provides an opportunity to expand existing units or possibly add a 5th unit. Electric meters are separate and billed directly to tenants. Owner pays gas water and trash.
Listing courtesy of Christopher Cornet, Bridge Realty, LLC
