Castle-looking structure overlooking the park and the Mississippi River. The unique architectural style gives a royal appearance especially sitting high upon a hill. Balconies afford a sunrise view facing east. 24 units with a mix of 1-bedroom+ and studios with interesting floor plans and more than normal closet / storage space for their size. Rents average around $550 per month. Garages provide additional rental income. Enter the Off-street parking lot from Pennsylvania Street up to the small back yard area. This under-performing investment has been improved immensely and is posed to turn a profit. Big upside potential now. There was a pipe break which put 3 units out of service & the owner has a pending claim for the damage of $40,000 which could be assigned to the buyer. Priced at a 7.78 Cap rate. A Proforma is an attached document to this listing.
Listing courtesy of RE Source, LLC.
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