426 Haskins (Belmont Terrace) consists of 11 total units comprised of two 2-bedroom apartments, nine 1-bedroom apartments, a laundry facility, and a storage room. The property is in a prime location in Belmont - the last vacancy in the building leased for $450 per month in three days (1 bed, 1 bath). Each unit has central heat/air. Tenants pay for their own gas and electric, and the landlord pays for water/sewer and trash. Units have been updated as they have become vacant. Many have new windows, flooring, and updated fixtures. Many long-term tenants. This is a very quiet building - it is a low maintenance/management asset that would enhance any portfolio. Rents are currently below market because of long-term tenancies, and currently there is no water bill-back.
Key Points: $364,900 11 Units (33,172.73/Unit) 100% Occupied Good cash flow 9.5% Cap Rate Great location in Belmont Units lease fast!!
Asking Price: $364,900
Building Size: 9,584 SQ FT
Cost per Square Foot: $38.07