618 State Street

Description

This is a great investment opportunity in the heart of Watertown. This building has 4 apartments in excellent shape. They are in need of nothing. The rents are below market rate as the owner says "I'm not in the building to be a landlord, I'm there to run a doctor's office." The tenants are all loong term tenants and have expressed the desire to stay. The property includes a two car garage for more potential rental income(it is not currently rented, it is empty.) Upgrades include a new roof (4 years old), new hardwood floors, all new hot water tanks within the last 3 years, a new electrical panel and HVAC(3 years), new appliances in each apartment and more. All the units are in great shape and are in need of nothing. The 4 units generate $2,200 per month and the commercial space rents for $1,500 per month. The commercial tenant is the owner and he will vacate the space when the building sells. The building is being sold "as-is" as everything has been updated. This building has previously passed an inspection. Bring your experience and get the rents it deserves.