This is a this turn key portfolio + possible development opportunity in rapidly expanding Downtown Middletown with 8.5+% CAP rate.. The property addresses are 22, 40 and 44 Green Street. The portfolio consists of: 5 Family + 4 Family + 4 Family = 13 Total Units. There is also one building lot included in this sale + a detached 4-car garage. Overall, the unit mix consists of (2) 1 bed units, (6) 2 bed units and (5) 3 bed units. The units have various kitchen and bath updates and the majority have hardwood floors throughout. Units are a good size, with EIK and pantry + closets throughout. All three buildings have separate and tenant paid utilities (gas heat and hot water) + separate and updated electric throughout. The furnaces, hot water tanks, roofs and rear porches are all in good condition. The properties have vinyl/replacement windows. There is a laundry room on site for all tenants - owner owned washer/dryers. There is ample off-street parking at each building. This is a GREAT opportunity! DO NOT WALK PROPERTY W/OUT L.A PRESENT. .. Near NEW Harbor Yard Development!
JOHNSON REAL ESTATE