5,280 sq/ft building with 2,640 sq/ft drive in lower level. Fully updated move in ready with great cashflow potential 16+% CAP Rate: 1st Floor: Envelope, move in ready 2 ADA BRs, Wood Floors, 16' Ceilings, Original Frank Lloyd Wright tile windows located above each of east facing showcase windows. [Target Rent: $2,640 / month] 2nd Floor: 3 apartments: unit 201: Studio, w/ current rent $720. Potential to earn $950+ /mo) Unit 202: (600 sq/ft) 1 BR asking $1,050 /mo., Unit 203: 1,100 sq/ft) 1 large, 342 sq/ft, bedroom. Current rent $1,055 w/ potential to ask $1,350 /mo Lower Level: Garage [18.5'x33.5' (627 sq/ft)] access via City Easement off Bolton St. direct. Can be expanded to additional lower level space (1,336 sq/ft) Access Options from Garage and/or First Floor. Potential Use: First Floor Storage or light manufacturing/mechanical, Small Engine or Bike Repair, Dry Goods or Auto Storage, Office Space, Art Studio, Retail. 1st Floor transition to lower level [equipped with two rest rooms (Ruffed-In) can be used for additional restroom for 1st floor tenant or lower level space. Includes office and separate storage [525 sq/ft inclusive] Income Garage w/ storage space: Full potential Lower Level Income for the 2,488 sq/ft space: $1,244 /mo Street Parking or City Parking Lot is available 200 ft way on SE corner of S. LaSalle & Bolton NOTE: FINANCIALS INDICATE PROFORMA PROJECTIONS [current and projected market rates] Proforma CAP RATE - RENT ROLL is attached
Keller Williams Realty Infinity
Keller Williams Realty Infinity.
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Listing information last updated on July 10th, 2020 at 1:15pm CDT.