110-118 Lincoln St., PITTSFIELD, MA 01201
Commercial property for sale
Description
A total of 12 apartments in three buildings on one lot located at 110-118 Lincoln St and 18-24 Cherry St. All of the apartments have lead compliant certificates. The three buildings contain four apartments each with all of tenants paying their own utilities except two that are getting the electric paid for, Of the 12 apartments six are on leases of which five are Section 8. The building at 118 Lincoln St. has been totally rehabbed due to a fire. An addition lot that is used for parking will be conveyed with the sale. Current potential income is $96,144 with expenses being $24,866, giving the property a NOI of $66,471 figuring in a 5% vacancy factor which represents a 13.3 cap. The estimated cash on cash return before taxes is 32.6% based on 20% down with a 25 year amortization schedule at 6.5%. Building price details: $499,000.
Property Details
- Type: Multifamily
- Status: Available
- Year Built: 1880
- Buildings: 1
Exterior Features
- Parking: Yes
- Parking Spaces: 6