Remarks:
Mixed use, value-add investment opportunity with 6 apartments and a commercial building, currently being used as a laundromat. Six, large 3 bedroom, 2 bath units (averaging 1, 030 SF) being leased for $540-$585, totaling $3, 415 gross monthly income. Well maintained building with spacious floorplans and long-term tenants. Quick Trip Laundry is currently on a 10-year triple net lease (expires 04/30/2027), with step up rental payments for years 4-10. Base rent for years 1-3 is $1, 545 + estimated tax and insurance reimbursement of 24% of actual cost, equates to an effective gross monthly rent of approximately $1, 830/month. Lessee has been in the laundry business since 1981 and operates 8 laundry facilities.
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