Description
This great income-producing property is currently being used as a transition home for men getting out of the correctional system. The property consists of 3 separate units. The main home has three levels with 6 bedrooms, 2 kitchens, 2.5 baths, and 11 beds. The upstairs apartment has a separate entrance. Additionally, there are also two duplexes on the property, both with 2 beds, 1 bath, and 1 kitchen for a total of 8 beds. The tenants are on a month-to-month rental agreement, and each bed is $550 a month. Many of the tenants choose to stay at home for a year or even longer (5 tenants have been there for over three years with no plans to move). The property has 24 beds available, and 18 are currently occupied. The seller has offered to help aid in the transition of the new ownership after the closing if desired. However, should the buyer not want to continue to run this type of program, they can switch over to a traditional rental, as all tenants are on month-to-month contracts.
Directions: At the corner of Orchard and Richardson St.
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0BEDS
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0.61ACRES
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0BATHS
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01/2 BATHS
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5,420SQFT
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$0$/SQFT
School Ratings & Info
Courtesy of West Real Estate Group.Description
This great income-producing property is currently being used as a transition home for men getting out of the correctional system. The property consists of 3 separate units. The main home has three levels with 6 bedrooms, 2 kitchens, 2.5 baths, and 11 beds. The upstairs apartment has a separate entrance. Additionally, there are also two duplexes on the property, both with 2 beds, 1 bath, and 1 kitchen for a total of 8 beds. The tenants are on a month-to-month rental agreement, and each bed is $550 a month. Many of the tenants choose to stay at home for a year or even longer (5 tenants have been there for over three years with no plans to move). The property has 24 beds available, and 18 are currently occupied. The seller has offered to help aid in the transition of the new ownership after the closing if desired. However, should the buyer not want to continue to run this type of program, they can switch over to a traditional rental, as all tenants are on month-to-month contracts.
Directions: At the corner of Orchard and Richardson St.
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