1255 Lucas Avenue, Rosendale
Great 4 unit investment property with a 9.94% cap rate at asking price. Property consists of a solid 3-family home, detached 2 bedroom mobile home and a detached 2 car garage. The home and trailer are set off the road on a sprawling 2 acre parcel great for owner use or land for tenants to enjoy. The fist floor of the 3 family is a 3 bedroom apartment, second floor is (2) 1-bedroom apartments. 9.94% cap rate at asking price includes all expenses, $1,200 lawn/snow expense, 3% vacancy rate and a 3% repair and maintenance expense. Owner pays the heat and hot water for the 3-family home (oil boiler) tenants pay the electric, mobile home tenant pays all their own expenses. There are two wells and two septic system on the property, one for the 3-family and one for the mobile home. 3-family has a newer concrete septic tank and a new septic line going from the house to the tank. The mobile home has a newer plastic septic tank. Roof on the 3-family is about 4-5 years old, architectural 30 year shingle. Please see associated doc's for all additional info and I&E sheet.
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