106 Howland Ave, Adams, MA 01220
Commercial property for sale
Description
The property is located on the main road between Adams and North Adams. The neighboring properties are a mixture of commercial, industrial, retail, and residential. Fourteen unit apartment building with all one bedroom units. All tenants pay their own utilities. The Main roof was replaced in 06 and there is all new replacement windows. The back yard parking area gives the tenants plenty of off street parking. All apartments are in average to good condition. There is a coin-op laundry in the basement which produces about $600 in income a year. The potential rental income is $60,840, expenses are $16,743 per year giving you an NOI of $41,055 which includes a 5% vacancy factor. At current list price cap rate is 10.5 and the cash on cash return is 16.3% based on the mortgage quote received from a mortgage broker. Building price details: $349,000.
Property Details
- Type: Multifamily
- Status: Available
- Year Built: 1886
- Buildings: 1