3403 Frankford Ave
Comps
Listing Notes
AS IS SALE. The buyer earns the right to cash flow, equity growth and tax benefits. Investor special five unit apartment property with BELOW MARKET RENTS. Value add deal. 3 of the 5 units are currently rented. Apt 1 - $550/ month. Apt 2 - $555 / month. Apt 3 - $535 / month. The utilities are separately metered and the tenants pay ALL utilities. For economies of scale & optimal density this property can be purchased with 2922 Frankford Ave, 2924-26 Frankford Ave, 2928 Frankford Ave, 3405 Frankford Ave, 3551 Kensington Ave, 3553 Kensington Ave, 1911 E Cambria St & 1909 E Ontario St as a package deal for $1,890,000 total.
Analysis
Asking price is about 7.1% above where comps + adjustments land — there is room to negotiate.