Carriage House 919 7th St

Actual CAP RATE 8.9 with only 75 percent of the square footage occupied. Own a piece of History built in 1905, a Historical Registered Building. This building brings in $14,642 monthly income on just 2 of the floors. The basement has approximately 3230 square feet of vacant space and the top floor is empty, approximately 796 sq ft, with more square footage to finish. The second floor, approximately 4837 sqft, has 13 bedrooms, 5.1 bathrooms, and 4 kitchens rented by a non-profit that provides discounted property taxes. The 1st floor, approximately 4522 sq ft, has two rented retail spaces and one occupied apartment. One tenant occupies two retail spaces; there are actually 3 retail spaces on the first floor. The following maintenance has been performed to the building: the roof was done in 2020; the Fire Sprinkler System was installed in 2020-2023; the Plumbing upgrade in 2023; the sewer line to the street was replaced in 2023; the basement waterproofing in 2023; Foundation post upgrade 2023, water heater for the building was installed 2020, and First floor HVAC 2019 and 2021. First-floor leases have a 4% annual increase for retail space and 2nd floor 3% annual increase.