Property Description

Great investment opportunity in the heart of the Carthage business district. This 3 unit mixed use commercial/residential building is combined with the attached 266-268 State Street, 11 unit mixed use commercial/residential building next door (MLS #S1628327; Tax Map #226001-086-041-0004-025-000. The Tax Map number and MLS number for each property should be included on any Purchase Offer or Letter of Intent. The 2 properties are comprised of a total of 14 units, 10 residential and 4 commercial. The commercial units are H&R Block, Morning Ritual, Cellular Phone Outlet, and Hawk Self Storage. Hawk Self Storage has 6 storage units which provide the rent for that commercial space. The 10 apartments on the upper 2 floors include (3) 1-bedroom, (4) 2-bedroom, (2) 3-bedroom, and (1) 4-bedroom. The properties are 100% occupied resulting in total gross rents of $149,613. There is also a coin-operated laundry available for the tenants in 272 State Street, resulting in additional income. Tenants are responsible for electric. Water, heat and trash are included in the rent. Tenant parking is provided. Additionally, a two-stall garage is available which may be rented to tenants. Significant repairs and upgrades have been made in recent years which reduce maintenance expenses in the near future. There is excellent potential for significant cash flow and return on investment. ALL MLS AND TAX MAP NUMBERS SHOULD BE INCLUDED ON ANY PURCHASE OFFER

Property Features

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