Price Reduced by $100,000
The Boyle Apartments was originally a 5-unit apartment building that is currently being operated as 7-units (5 units per the certificate of occupancy) with paperwork filed to legalize all 7 units. The property is completely vacant and is situated on a corner lot with parking located from two driveways. The property consists of two structures built in 1928 and 1899.
The owner recently obtained paperwork from the city to convert the property to 7 legal units with one unit being designed affordable. There is also a possibility to make the property 8 legal units. Prospective buyer’s are to investigate the requirements of converting the property from 5 legal units to 7 or 8 units through this program.
The current unit mix consists of two units that are studios with a kitchen and one-bathroom, four one-bedrooms with one-bathroom, and one unit that is currently configured as a two-bedroom with one-bathroom, however, that unit could also be configured into a one-bedroom with a den, depending on the new owner’s objectives. The property is master-metered for all utilities. The property will be delivered vacant in as-is condition and all of the units will need to be renovated.
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