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Listed by Matthew Lefebvre of Elm Grove Realty

Listing Sold by Ledgeview Commercial Partners, LLC

With a premiere location on the corner of Elm Street and Orange Street, this 29 unit building is a unique investment opportunity. Comprised of 7 commercial units, 8 studio apartments, 11 one bedroom apartments, and 3 two bedroom apartments, this property has a solid mix of unit types and income sources. With the same ownership for 26 years, this building has HUGE value-add potential. Many units have not been renovated recently and have the potential for rents to be increased substantially. Additional cost-saving measures could be applied by separating utilities and cutting operating expenses substantially. Many major capital improvements have already been made to this building including installation of rubber membrane roofs, upgrading windows to vinyl replacement, renovation and buildout of several commercial units, and more. This property is located in a Qualified Opportunity Zone.

Property Details of 1279 Elm Street

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Copyright 2019 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NEREN. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated September 21, 2019.

 

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