Description
For sale is a beautiful turnkey apartment building located in the heart of Delphi! Welcome to 110 W Front St. This all brick building with metal roof houses 11 spacious units and is fully leased. Each unit features 2 bedrooms, 1 bathroom, and approximately 800 square feet of space. All units have been completely remodeled and feature new everything, including gorgeous vinyl flooring, high end cabinets with soft close doors and drawers, stainless appliances, new doors and trim, all new bathrooms, and more! Additional amenities include an on site coin-op laundry room, 2 garages, multiple carports, and a large parking lot that provides plenty of off street parking. Gross rents total $118,620 annually with an additional $1500 in laundry income (estimated). Landlord pays water/sewer, trash, common area electric, taxes, and insurance. Expenses are listed below Water - $3,363 Trash - $1,356 Electric (Common Area) - $3,702 Taxes - $4,886 Insurance - $5,085 This wonderful property provides strong cashflow and is perfect for the seasoned investor or someone looking to jump into the rental business. NOI is estimated to be just under $102,000 (7.8% CAP) minus any maintenance expenses. The building underwent an extensive remodel over the past 12 months, so no maintenance history is available.
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22BEDS
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0.48ACRES
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11BATHS
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01/2 BATHS
School Information
Description
For sale is a beautiful turnkey apartment building located in the heart of Delphi! Welcome to 110 W Front St. This all brick building with metal roof houses 11 spacious units and is fully leased. Each unit features 2 bedrooms, 1 bathroom, and approximately 800 square feet of space. All units have been completely remodeled and feature new everything, including gorgeous vinyl flooring, high end cabinets with soft close doors and drawers, stainless appliances, new doors and trim, all new bathrooms, and more! Additional amenities include an on site coin-op laundry room, 2 garages, multiple carports, and a large parking lot that provides plenty of off street parking. Gross rents total $118,620 annually with an additional $1500 in laundry income (estimated). Landlord pays water/sewer, trash, common area electric, taxes, and insurance. Expenses are listed below Water - $3,363 Trash - $1,356 Electric (Common Area) - $3,702 Taxes - $4,886 Insurance - $5,085 This wonderful property provides strong cashflow and is perfect for the seasoned investor or someone looking to jump into the rental business. NOI is estimated to be just under $102,000 (7.8% CAP) minus any maintenance expenses. The building underwent an extensive remodel over the past 12 months, so no maintenance history is available.
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