Pittsfield, MA 01201
The Esther Terrace portfolio consists of six 2-family homes and an additional lot used for parking, which could allow for another 2 family to be built (buyer to verify). At list price and current rent roll, this portfolio nets a 9% cap rate, though with an upcoming revenue increase of $6,000 annually, that percentage will rise. Many recent improvements including landscaping, siding of one home, new paint, new carpet, and updating kitchens in many of the units. Most recently a water meter has been installed in 1 property resulting in $100 savings in water cost after the first quarter ($400 annually); adding meters to the remaining properties may result in similar savings. The units are 100% occupied and are easy to market and fill.
Listing Office: JAN PERRY REALTY & ASSOCIATES, LLC
Listing Agent: Rebecca Oberwager
Last Updated: August - 10 - 2018
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Wednesday 22nd of August 2018 05:46 AM