11 Park St
About This Property
Value add opportunity. 14 Legal apartments with plenty of parking. Great residential location in the Historic Highland Neighborhood! Separate gas heating systems. All one bedrooms and studios. Four apartments have just been cosmetically renovated. Tremendous upside to bring rents to market rate. Property needs significant improvements including, but not limited to roof, siding, windows, kitchens, baths, common hallways and installing separate electric meters for each apartment. With improvements the property should gross between $150,000 to $160,000 per year. There is a POSSIBILITY of subdividing a two family lot from the existing parcel. The Seller has plans. Interior pictures are of one updated apartment. Seller may take smaller or larger property as payment towards this building. Please drive by the exterior and if you are further interested, call to make an appointment.
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