10-14 - Central Street

Estimated Monthly Payment: $9,290/mo 10-14 - Central Street, Ipswich, MA 01938 MLS# 72515734 Commercial/Industrial Listing Status: Active

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REMARKS:

Turn-Key Opportunity Providing A Cap Rate Of 7% And A Cash On Cash Return Of 11.5%. Mixed-Use Building In Downtown Ipswich. Four Huge, Modern Apartments Over Very Popular Downtown Restaurant. All Apartments Are 5 Room, 3 Bedroom Units, Measuring Approximately 1250 s.f. Plenty Of Off-Street, Municipal Parking Behind Building. Full Attic For Storage Or Expansion. Two Apartments Pay $1825, Two Apartments Pay $1800, Rents To Increase September 1st. Restaurant Pays $4100 For Rent And 42% Of Total Property Expenses. Great Location, Excellent Condition, Incredibly Clean.

OVERVIEW:

Commercial/Industrial
Commercial
Active
1900
0.06
Membrane
4
Open, 21+ Spaces
Open, 21+ Spaces
Public Water, Public Sewer

FINANCIAL:

$1,850,000
$10,247
2019

NEIGHBORHOOD & SCHOOL INFORMATION:

Broker Reciprocity Courtesy of Raymond R. Clements, Investment Property Advisors

 

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