37 unit apartment building consisting of 12 studios, 24 efficiency and one 1-bedroom.
This former Select Pet Foods manufacturing plant is ideal for conversion to multi-family utilizing tax credits and tax increment financing. Also zoned MH for continued use as manufacturing or warehousing (500 KBA transformer with 277/480V and three transformers totaling 1000 KBA with 120/240V, all three-phase power). The cold storage facility to the north (103 S Virginia) is included in the sale and could continue to be used as a warehouse or demolished for parking. The former Creamery across the street to the east can be combined with this purchase for a 25% discount on both.
This former creamery is part of the Select Pet Foods manufacturing campus. This building could be converted to multi-family using tax credits and tax increment financing. The property is zoned MH so could continue to be used as warehouse or manufacturing (75 KBA transformer with 120/208V, 3-phase power). The property features a large parking lot with an address of 100 Virginia. This property can be combined with the purchase of 103 S Virginia across the street to the west for a discount of 25% on both properties.
2 buildings-41 units. Strong occupancy with low tenant turnover. 9.0% cap rate - to be sold with the Pierce Street Apartments. Extensive interior upgrades, 100% lead based paint remediated, full security system and updated electrical.
5-plex with basement garages. 100% occupancy, 9.3% cap rate. Newer roof, furnaces, a/c and windows. Tenants pay heat and electricity.
2 buildings-9 units: 5-3BR, 3-2BR and 1BR. Great 10.8% cap rate. To be sold with the Castle-Stellart Apartments. New roof, many updates. Apartments have crown molding, French doors and wood floors.