Located near the intersection of Sutter Ave and Essex St, and a quick 3-minute walk to the C train on Pitkin Ave. This is a vacant legal 4-unit, three story building in need of renovation. The renovation is 80% complete and major work has already been done. It only needs cosmetics like putting down floors and painting the walls. The building has a new boiler and water heater, and all of the electric and plumbing is new.
The first floor is a three-bedroom floor-through apartment with a full kitchen, full bathroom, living room and dining area. The second floor is a four-bedroom, floor-through apartment with a full kitchen, full bathroom, living room and dining area. The third floor has 2 one-bedroom apartments. They are located at the front and rear of the property.
This deal is a great investment opportunity since the property is almost complete and an investor does not need much money and time to finish the renovation. The apartments can be rented within a few weeks after the closing. New ownership can maximize the rent for the first floor by converting it to a store or office, which is allowed by the C2-3 overlay zoning.
Fine restaurants and retail stores are nearby on Sutter and Pitkin Avenues.
Price includes a 3% broker fee paid by buyer.