Description

488 N Jay is a fully occupied four-unit building offered together with the adjacent 490 N Jay as an eight-unit package. The buildings are being sold as one transaction and will not be divided.All four units are leased, producing $3,700 per month / $44,400 annually in gross scheduled rent. Combined with 490 N Jay, the package produces $85,800 annually with a net operating income of $73,920 on current actuals. Owner-paid expenses across both buildings total $11,880 and are limited to insurance, taxes, landscaping, lawn treatment, trash, and repairs. Tenants pay all utilities except trash, which is served by a shared dumpster covering both properties....read more