Attention investors! This 3-unit building is emerging from a renovation through the HUD Lead Safe program and seeking a new owner to purchase the LLC that holds the property.
Located on a tree-lined street, the home is on a quiet block a short walk from everything that Parkville has to offer – groceries, retail, restaurants, library, and FastTrak.
The exterior has been beautifully redone with new siding, windows, and roof all showing off the tower and porches.
The building has an unusual interior layout and history, with the first floor divided into two units. The right half of the main level is a 3-room space that at one point was a fully permitted salon. The left half of the main level is a 2-room space for a tenant who just needs a studio-like setup. The final unit is a 4-bedroom space on the second floor and the front half of the third floor. Unfinished walk-in attic space offers the opportunity to expand on the back half of the third floor.
All the units have basic kitchen and bath facilities that will need to be refreshed to maximize rental income. Beyond that the remaining improvements are cosmetic, and a fresh coat of interior paint will go a long way.
The building is in year 8 of the City’s Blighted Property Tax Program. Taxes will be discounted for one more year beyond the current tax year.
Note: The seller will convey 100% ownership in the LLC that holds this building, NOT a deed for the property since the building is already in the LLC’s name. Cash offers only.
18-20 Newton Street is offered at $225,000. If you’d like to see this home have your agent arrange a private showing, or call Kyle at 860-655-2922 to schedule a visit. More details are available.