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Elizabeth, NJ 3 family brick building cash flow opportunity
1st floor 2br/1ba (currently rented $950), 2nd and 3rd floor 3br/1ba vacant.
Property has a large unfinished basement with own entrance/exits partitioned off from furnaces and water heaters. Extra income potential: possibly adding coin operated washers and dryers in basement? Each floor has separate utilities which tenants pay individually. 10-15K Repairs total for 2nd and 3rd floor.
All separate utilities.
Estimated Rents: $950 (1st flr.) + 1,050k (2nd flr.) + 1,050k (3rd flr.) = $3,050
This cash flow property sold in (1) day!
When we have other awesome cash flow or whole sale deals again, it'll be posted here on TriState Mixer! :)
What area of Elizabeth or street is the property located, also what is the price??
Sorry i missed this one. Please keep me in mind as this is a particular area of interest.
This opportunity sounds promising. One Question, where does the financing for a project like this come from?