Interesting Studio offer Boston, $200k

[Josh Blank]

390+ sq.ft studio in Allston/Brighton

3rd floor

Front facing

Kitchen & bath are old but very well kept.

New windows

HW floors and high ceilings

Lots of closet space

Condo fee: 223/mo

Taxes: $2100/yr

Building:

Well run professionally managed Brownstone building

No current assessments

Both the roof and heating systems have been done in the last 10-15 years

Low owner occupancy

13% owner occupied

No pending litigation

OFFER:

200K price with not rental income (worth 300K on open market under normal scenario)

mid 60's tenant gets lifetime lease

Tenant pays for any/all maintenance or replacement of appliances, etc...

Buyer pays for taxes, condo fees and any future assessments in perpetuity until tenant is out.