Investor take notice! A cash generating property at the heart of East Haven! Currently the cap rate is 6.3% with one retail space vacant. Once it's rented out for a moderate price ($1300/month), the cap rate can be instantly improved to 8.7%! A restaurant at the first floor leased till 2028 ($2700/month). On the second floor 3bd/1ba apartment lease ends 9/30/2023 ($1580/month). New Roof 2020. The apartment was completely renovated 2021 and hot water heater from 2019! Restaurant is responsible for maintaining its own hot water heater, washer/dryer and pay for all utilities. Only one water and one sewer meter which are paid by the restaurant. Owner of the building pays the restaurant $40 a month for covering the water and the sewer for the tenant upstairs. Tenants responsible for ALL other utilities.
No similar listings found
Unfortunately, we don't have any similar listings at the moment. Please remove or change some of the selected filters.
The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2022 SmartMLS, Inc. Updated: 9th June, 2023 2:55 PM (UTC)
Listing Agent: Jia Wu
Listing Office: BHGRE Gaetano Marra Homes