Tremendous opportunity for investor at 8.4% cap rate with LOW rents to keep current buildings or for a developer to build multi-unit or single family homes. Current building is a 16 unit complex with 14 one-bedroom and 2 two-bedroom units. Plenty of parking. Tenants pay their own utilities. All units have washer hook-ups and a few have washer and dryer hookups. VERY conservative cap rate at 8.4% with rents low. Increase rents to market rate and enjoy a 10.4% cap. Clean units that have been well maintained and always full! Great lot that backs up to the marsh and located next to a community of all brand new homes. Convenient access for tenants to 526 and 26.
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