535-545 RUSSELL Road, Clarence Rockland | Image 1

535-545 RUSSELL Road

Clarence Rockland, 607 - Clarence/Rockland Twp

  • Commercial

$4,500,000
For Sale

Added 2 months ago

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  • Type: Investment

  • Property Type: Commercial

  • Zoning: RV2-10

  • Age: No Data

  • Taxes: 42675

  • MLS®#: X9519706

  • Days on Site: 64 Days

  • Added: Sep 18, 2024 (2 months ago)

  • Updated:

  • Last Checked: 48 minutes ago

  • Listed By: RE/MAX DELTA REALTY TEAM

Solid investment opportunity for the savvy investor! Priced at 6.4 cap with present-day NOI (current appraisal on file). Room to grow top line revenue on turnover (14 of 20 units remain rented under market rates). Consists of 2 buildings each with 10 units (7 x 2-bedrooms and 3 x 1-bedrooms) for a total of 20 units. Individual units registered as condos (but not operated as such), which opens interesting options for future exit strategies for the experienced investor. All units are individually metered for both heat (natural gas), hydro and equipped with A/C units. Low maintenance units with ceramic and laminate flooring throughout. Interior storage units available for each unit and plenty of parking. Built in 2015. Meticulously managed property by owner operators with pride of ownership.

Property

  • Status: Sale

  • Property Type: Investment

  • Property Type: Apartment

  • Net Income: 290310

  • Area: Clarence Rockland

  • Community: 607 - Clarence/Rockland Twp

  • Availability Date: Flexible

Inside

  • Air Conditioning: Central Air

Building

  • Heat Type: Water

  • Water Supply: Municipal

  • Volts: 240

  • Amps: 400

Parking

  • Covered Parking Spaces: 40

Fees

  • Tax Year: 2023

  • Tax Legal Description: RUSSELL STANDARD CONDOMINIUM PLAN NO. 68 AND ITS APPURTENANT IN

  • Taxes: $42,675

  • Insurance Fee: 10073

  • Operating Fees: 80094

  • Water Fees: 5716

Land

  • Cross Street: Take Russell Road Ea

  • Municipality District: Clarence-Rockland

  • Parcel Number: 697680001

  • Sewer: Septic Avail

  • Lot Depth: 254.84 Feet

  • Lot Frontage: 255.63 Feet

  • Zoning: RV2-10

Commercial Specific

  • Gross Income/Sales: 370404

Map of 535-545 RUSSELL Road, Clarence Rockland
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