61 East Street, Bethlehem, CT

Multi – Family

61 East St.                      

Multi Family in rural setting

 Local Ownership

Well – Maintained

Sale: $425,000.00

Nick Longo

203-578-0208   neegall@aol.com

PROPERTY OVERVIEW

The property consists of 2-2 bedroom apartments and 3-1 bedroom apartments of wood construction.

Built in 1900, this property has a 100% historic occupancy.

Floor coverings consist of wood flooring, ceramic tile and vinyl.

Kitchen contain wall and base cabinets, refrigerator, electric stove, and basin sink which LL owns.

Off-street parking is included with this property.

 OWNER METER consists of:

 Well

Furnace

Utility Room

Exterior Lights

Each Tenant pays Electricity

Elec:  400A / Single Phase

PROPERTY DESCRIPTION SUMMARY

 Sale Price:                                    $425,000.00

Property Address:  61 East St.

Bethlehem, CT

Number of Stories:  2

Year Built: 1900

Construction Exterior:          Wood/Aluminum Siding

Foundation: Concrete Slab

Roof: Asphalt

Windows:        Double-Hung/Replacement

Gutters: Aluminum

Floor Covering: Wood / Vinyl / Tile

Walls: Sheet Rock

Ceilings: Sheet Rock

Interior Doors: Wood

Utilities Available:        Electric

INTERIOR SUMMARY

 Heat:                                      Baseboard Radiant

Heat Paid By:                 Owner

Fuel: Oil

Distribution: Radiant

Hot Water: Hot Water Storage Tank LL – pays

Hot Water Paid By: Tenant – #4

Air Conditioning: Windows

MULTI FAMILY DETAILS

Cabinets: Wooden

Counter Tops: Laminate

Appliances: Electric Stove

Refrigerator

Full Bath: Combination Tub/Shower

Vanity

 SITE DETAILS

Acres: .50

Type of Parking:  Off-street

Topography:  Level

Shape:  Rectangle

Sewer:  Septic

Water:  Well

OPERATING STATEMENT

INCOME & EXPENSES

Rental Income

(2br.) – $950

(2br.) – $1,000

(1br.) – $850

(1br.) – $675  * – Tenant provides ground maintenance

(1br.) – $775

Total Income       $51,000.00

OPERATING EXPENSES

Owner’s Electric        $2,534.00

Oil                               2,314.00

Real Estate Tax          3,955.00

Insurance          3,100.00

Trash   1,130.00

TOTAL EXPENSES                 $13,033.00

NET OPERATING INCOME $37,967.00

 Cap Rate = 8.9%

• 61 East St Bethlehem
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