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Listed by Jamie Holland of KW Coastal and Lakes & Mountains Realty/Meredith

Listing Sold by Realty One Group Next Level
5 unit building in Downtown Pittsfield. 3 Units currently rented as residential. The 4th residential unit, a 3-bedroom apartment was recently vacated and freshened up for the next tenant. The 5th unit has received approval to convert from commercial space to a 2-3 bedroom residential. All tenants pay for their own heat, electricity, & cable. The owner pays for the town water and sewer, so owner expenses are quite low. Cap rate is 4.16% with 2 units currently being vacant. There has been ongoing maintenance and upgrades. Unit 2 was remodeled 1.5 years ago and again the past couple of weeks. Unit 5 was totally remodeled, barely a year ago. Outside drainage and new siding done. A new concrete floor in the basement. Individualized propane and hot water hookups. All tenants have a perfect on-time payment history. See attached income documents. Drake field, home to the locally famous hot air balloon festival, is just across the street. This property has been withdrawn since July. Please call agent to schedule showings.

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