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Listed by Daniel Del Grosso of Best Brokers
Three rental units; one studio, one one bedroom, one two bedroom plus store and 21 car EB parking lot. Parking spaces rent for $50.00 per month presently expanding to include 2nd shift customers. Tenants pay their own utilities except for water, sewer and hot water. Some minor painting on exterior and store interior needed. Great location servicing Electric Boat and it's employees. Current proforma income $54,888 new operating income (after expenses) $45,871.00/year $3,822/mth. At a 7.5% interest rate for 20 years the cost per $1,000 borrowed is $8.21 per month. $3,822 divided by $8.21 equals/supports $465,600 valuation!

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