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501 Hadas Ln., 501 E Pennsylvania Avenue, Bonifay
Investment Opportunity! This listing consists of a main home with 8 rental units, 7 currently rented bringing in a gross yearly income est. of $48,200. Rent the main home and other unit for $66k/yr.+ gross total.*See pictures and documents for detailed lists on each unit* Main home: 4bed /3.5 bath- 3,338 sq ft (landlord quarters)Attached unit: 2 bed/1 bath- $650Cottage #511: 2 bed/1 bath- $650Cottage #507: 1 bed/1 bath- $500Cottage #505: 1 bed/1 bath- $500Cabin #104 Hubbard: storage (not rented, but could be)Tri-plex #501: 2 bed/1 bath- $675Tri-plex #503: 1 bed/1 bath- $525Tri-plex #505: 1 bed/ 1 bath- $550WorkShopThe main home, occupied by the landlord, is a 4bed/3.5bath 3,338 sq ft built in 1930. New double-pane windows, storm doors, siding, roof, and baseboard inreplaced in 2006 with a new heat pump, duct work, and air handler. The kitchen including all appliances was brand new in 2016. Home also had updated plumbing, electrical, and water heater in 2012. New sheetrock in the living room, hall, and guest bedrooms. Seller is updating the living room with a new ceiling, drywall, and flooring. (updated pics as work is done..purchase before work is done for reduced price). Unit #503 is the attached unit to the main home. It is a 2bed/1bath with central heat and a/c. The outside air handler was replaced in 2017 and it has new kitchen floor covering. Unit #511 was built in 1982, is 480 sq ft, and is a 2bed/1bath. The bathroom was redone in 2009, it has central heat/air, and new floor covering in the living room Unit #507 was built in 1991, is 472 sq ft, and is a 1bed/1bath. This unit had a new roof in 2011 and a new central a/c unit in 2015. Unit #505 was built in 1993, is 504 sq ft, and is a 1bed/1bath. It had a new roof in 2011 and is currently being run by window a/c units as the central unit is inoperable at this time. Unit #104 Hubbard was built in 1950, is 744 sq ft, and is currently being used as storage. It used to be a beauty salon and since it does have street-front parking there is commercial rental opportunity. It had a new roof in 2012 and does not currently have an a/c unit. The triplex was built in 1970 but has an effective year built of 1991. It is 2,582 sq ft and had a new roof in 2011. It is equipped with a covered carport and laundry room under the carport. The first unit in the triplex is Hadas #501. It is a 2bed/1bath and has a central a/c unit of 2005. Hadas #503 is a 1bed/1bath and has window unit a/c. Hadas #505 is a 1bed/1bath and has window unit a/c. It has a new fridge and stove. The workshop behind the triplex is spacious and the perfect size for keeping things to run the rentals onsite. The main home is the perfect opportunity to live onsite and run your rentals, have an onsite property manager, or capitalize on the fact that this spacious home could add a lot more to the gross income of this set up. Also, there is more income potential with the unit currently being used for storage since you may be able to rent it out commercially. The remaining units are already rented so you will immediately have an income-producing property. This unique property is a rare opportunity, especially to be in the city limits. Seller might consider selling the triplex separately.
- MLS® #692752
- Square Footage8,120
- TypeCommercial Sales
- StyleResidential Income
- UtilitiesPublic Sewer, Public Water
- Date ListedJanuary 13th, 2020
- Days on Market138
- Address501 Hadas Ln., 501 E Pennsylvania Avenue
- Area08 - Holmes County
- Subdivision[No Recorded Subdiv]
- Zip Code32425
- HeatingAC - Central
- Listing OfficeElite Realty
DISCLAIMER: IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Source: Bay County Association Of REALTORS® Multiple Listing Service