Property Description

Welcome to 404 Spring Street, located in the desirable Centre Park Historical District. Two-unit property features a leaded glass entrance opening into a foyer. The main-floor apartment boasts beautiful natural woodwork, beamed ceilings, a corner fireplace, and stained glass windows. It offers large, spacious rooms, a private bedroom, plus a nice eat-in kitchen, and full bath, a bonus is a beautiful private covered rear porch! Direct basement access provides convenient laundry access. This unit has strong rental potential of up $900 mo. Current owner kept rent low due to good long-term tenant. The upper unit, spanning the second and third floors, includes three large bedrooms, an open-concept kitchen and living area, a full bath, and its own private covered rear porch! This apartment is rented to one person at a lower rate of only $1050 but easily has the potential of $1500 or more due to its sheer size. The building is well-maintained with newer mechanicals and separate electric meters. This rare investment opportunity in a prime historic district with year round activities. This building in this location won’t last long. Landlord pays Water, Sewer Trash= $1708.82 total Insurance - $1628 Common Electricity-$619.40 Gas- Heat & Hot Water $1957 Total Expenses : $4,913.05 Current rent role Cap rate 6.3%

Property Features

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