1551 N Franklin Street

Description

Huge Price Drop! Motivated Seller. Submit all Offers. New construction mixed-use triplex with approved 10 year tax abatement! At approx. 4200 sq. ft., 4 story corner lot, and located in the booming Ludlow/Olde Kensington area, this property is a great investment opportunity, priced to sell. The two residential apartments are rented at $2100/mo for Unit 3, $1300/mo for Unit 2. Projected rent for commercial space (unit 1) is at least $1700/mo. That is a cap rat of over 7.0%! (Rental Pro Forma Attached). This property is perfect for a business owner operating their business in the extra large bi-level commercial space downstairs, and collect additional income from the two apartments or an investor simply wanting to add to their portfolio a large triplex with great potential for profit! Unit 1 is a large bi-level commercial space with separate side entrance, a backyard, a large ADA restroom and a second downstairs restroom for convenience. Unit 2 is a 1 bed/1 bath apartment with open floor plan, modern energy-efficient appliances, in-unit laundry, and beautiful finishes. Unit 3 is a bi-level 3 bed/2.5 bath apartment which has a spectacular rooftop deck with 360-degree views of the city, master suite, in-unit laundry, and a bonus area that can be used as a dining are, home office space, or just as an open space for entertaining. Some spectacular features include quartz counter-top kitchens, modern appliances, laminate flooring, luxurious vanity and elegantly tiles baths, walk-in closet, fiberglass roof deck, brick facade, high ceilings, security cameras, video doorbell intercom, etc. This is a rare investment opportunity at a great value!