Description

8% CAP. Profitable Established. 10 Units. Used Car Lot 0.25 acre. 8 bachelor/studio units, private entrance & bath for each.100% occupancy for 10 consecutive years. 2 additional units rented as storage/workshop. 0.67 acre lot, oversized parking lot. Building newly built 15 years ago after original building burnt down. 6,000 sf on two levels. It's a fortress, built with concrete slab lower level & upper level. Block foundation, block walls separating units, brick exterior. Originally a motel for first 15 years, last 10 years operated as a long term rental. Virtually no change from when it was a motel, there are no kitchens in the units. No appliances to repair/clean/replace = lower maintenance/utility expense. Complete new roof installed in 2015.New fire alarm panel, battery, smoke/heat detectors in September 2024. 2 new water heaters in November 2024.Property serviced by municipal water, sewer, electric heat.Zoned SC-11 Service Commercial Oxford County. Bus stop - 3 minute walk. Tenants are prepared to stay with new ownership & on month to month lease if new owner prefers vacant possession. Walmart Super Store 2.0 KM. Grocery Stores 2.5 KM. Hospital 3.0 KM. Banks, Restaurants, Doctors, etc 5.0 KM. Financing: Down payment $175,000. Principal $690,000. Yearly financing $68,963. Yearly revenues range $105,000. Yearly operational costs range $ 34,000. NOI range (before loan payment) $ 70,000. Mortgage rate 9.50%. Amortization 29 years. Term 5 years open. *For Additional Property Details Click The Brochure Icon Below*

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