FOR SALE

Eleven Townhouse Apartments with High Cap Rate

 Sale Price Only $395,000

• 16.5% Capitalization Rate
• All 3 & 4 Bedrooms
• All Two Stories with Attic and Basements
• Tenants Pay Gas & Electric
• Exterior Painted 2 years ago
• Roofs Torn Off and Replaced 2004
• 20 Car Parking Lot & Additional Building Lot Included
• Actual Addresses: 128 State Street, 128 ½ State Street, 1-5 Lewis Place, 2-10 Lewis Place and 19&21 Hutchins Place
• Gas Hot Air Furnaces
• Park Like Setting
• Within Walking Distance of Shopping
• All Subsidized Tenants

Income & Expense Statement

Income:    $97,500

 Expenses:

 Insurance        $  3,458

Repairs & Maintenance 5% $  4,875

Real Estate Taxes   $12,700

Utilities       $  1,300

Management 5%    $  4,875

Vacancy 5%           $  4,875

 Total Expenses        $32,083

 NOI        $65,417

 Sale Price                $395,000

Capitalization Rate   16.56%