Historic District Cumberland Md. Prime 3 Unit $2700 Monthly $299K

[RJ Bohigian]

Happy Thanksgiving to all of the Bigger Pockets Community.
In Keeping with the Holiday Spirit, and Just in Time for Your Black Friday Sales Fever!!!
We are offering a Cash Cow of a Deal.. Must Be done by December 24, 2017!!
*Going to Take a $240+K Hit for Tax-Deduction for other Business.

Growing Area, Well-established and desirable. 

All included in $299K Price. Price only valid if sold by year-end. 

419 Washington Street
417 Washington Street
415 Washington Street (vacant lot that can be built on)

Current owner invested hundreds of thousands of dollars in renovating duplex apartment building (417 & 419) on historic Washington Street in Cumberland, Maryland. Motivated to sell building at significant discount to level of investment put in if transaction closes by end of calendar year 2017.

8000 square feet, massive units!
Very good tenants on 1st and 2nd floor currently paying $900/month each for a total of $1800.
Third floor renovation needs to be finished and can also rent for $900, or PERFECT opportunity !
$1800 Current Occupied Lease Revenue with an additional $900 for 3 rd Floor if completed for
$2700 Lease Revenue Monthly!

Remodeling Cost Over $100K and is expertly , and tastefully done!
Tax Assessed at $317,400.00 2016

Building was originally 6 units (3 per side) and could be converted back:
If so, Could be:
1st FLOOR: 2 units at $750 EACH----- $1500 Monthly
2nd FLOOR: 2 units at $750 EACH----$1500 Monthly
3rd FLOOR: 2 units at $500 EACH ----$1,000 Monthly

Total Rental Revenue @ $3500 Monthly.

OWNER ALSO OWNS LOT NEXT DOOR WHICH CAN BE DEVELOPED