3814 Barnes Ave

Legal three-family with tenants paying all utilities except water, insurance & common electric. The top two units are three-bedroom, two-bath units. The ground-floor level unit has a two-bedroom, two-bathroom layout. Property includes a gated driveway for convenient parking. Current tenants are cash-paying, on-time, month-to-month tenants. Current rent roll is $7,000 monthly. Upside potential up to $116,016 calculated using present Sec. 8 amounts paid with no utilities paid by the landlord: 3BR = $3,454; 2BR = $2,760. Kitchens and bathrooms are in good condition. The top two floors have pleasant forward-facing balconies as well. Three separate gas boilers and meters. 4 electric meters, one for each tenant and one for the common area. Total city-recorded building sq. footage is 3,444. Less hallways and stairs, total apartment square footage is approximately 3,050, broken down as follows: 3BRs = 1,050 sq. ft. and 2BR = 950sq. ft.. These are large square footage units with big bedrooms that accommodate king-size beds and additional furniture. R5 zoning. Landlord expenses include Insurance $3,000, common electric $600 annually, water $600 per quarter or $2,400 annually = $6,000. No basement - Utility room is rooftop.