19 Unit Value Add Apartment Building Ready For Rehab

Opportunity to purchase a value add property located just a short walk to all of the shops and restaurants on S. Grand. There are a number of renovation projects happening in the area and rents have steadily raised over time. Built in 1926 with seven 2 bed apartments, seven 1 bed apartments, 3 studios and two commercial spaces. The commercial spaces are approximately 1,920 sq ft and 1,480 sq ft and would generate approximately $12 per sq ft gross. The Building has been gutted and is ready for rehab and permits have previously been approved for construction. Projected market rent after renovation is $900 for the 2 beds, $750 for the 1 beds, $670 for the studios, $1,920 and $1,480 for the commercial spaces which is $16,960 a month and $203,520 annually. Priced at $20ft. The building has a garage on the first floor for the tenants. There are building plans available to review. Property needs a full renovation and is being sold as-is.