14311 Route 9W

Sprawling 29 unit complex consisting of two adjacent parcels, 1037 Aquetuck is a 12 unit brick apartment building, fully rented and about 5 units are renovated along with a new roof. 14311 Route 9W is a +/- 2,500 square foot renovated 4 bedroom brick single family home and a completely renovated 16 unit strip apartment complex (is currently a 28 room motel) but renovation starts January 15, 2022 and should be completed by April 2022. The 12 unit apartment building has all electric motel style heating and ac, the home has a hot water boiler and the 16 units that are under renovation will be brand new with heat/ac splits in each unit. There is lots of flat usable land for tenant enjoyment or additional accessory buildings. See attached income and expense sheet. Property is being offered at $1,995,000 sold turn key as a 28 unit apartment complex with a single family home, rents for the 16 newly created apartments are projected in the sheet at a low fair market rate. Cap rate at asking price is 8.58% at current rents and projected rents. Listing agent is part owner.