2448 N Lotus Avenue

WE ARE IN A MULTIPLE OFFER SITUATION. ALL HIGHEST-AND-BEST OFFERS ARE DUE ON THURSDAY, AUGUST 11, 2022 BY 10 AM. This legal, 3-unit building makes for a perfect investment; or, you can live in one unit and rent out the other two units - and you can live for practically free. And the best part? The mechanicals are in tip-top shape; simply put, this property has been well-maintained by its owner! There are two units on the first floor. There is one unit on the second floor. The first floor has an east facing unit and a west facing unit. The east facing unit on the first floor is a one bedroom unit. It is presently rented on a month-to-month basis for $700 per month; the tenant has lived in this unit for approximately four years and he pays on time. The west facing unit on the first floor is also a one bedroom unit. This unit is vacant. The second floor unit takes up the full length of the house; this unit consists of a three bedroom, one bathroom unit with a formal living room, dining room and a sprawling kitchen with an eat-in breakfast area. This unit is also vacant. Overall, the building needs cosmetic repairs, or it can be spit-shined and easily rented. These are commonly asked questions. WHAT TYPES OF FINANCING ARE ALLOWED? Please bring your conventional, FHA and VA buyers. We will work with them. WHAT IS THIS PROPERTY ZONED? This building is zoned as a legal, 3-unit building with a RS-3 zoning. WHAT ARE THE AGE OF THE MECHANICALS? A new, tear-off roof was installed on the house and on the garage in May of 2020. An insurance claim was not filed. The boiler was installed in 2008. The hot water tank was installed in 2014. WHO PAYS FOR ELECTRICITY? There are four electrical meters. Each unit has its own electrical meter. The fourth meter is a common (or public) meter. In the past 12 month, the common area had an electric bill of $196 for the year or $16.33 per month. In the past 12 months, the first floor, east facing unit had an electric bill of $653 for the year or $54.41 per month. In the past 12 months, the first floor, west facing unit had an electric bill of $1,153 for the year or $96.08 per month. In the past 12 months, the second floor unit had an electric bill of $420 for the year or $35 per month. The building also has a 100 AMP panel in the basement. WHO PAYS FOR GAS? There is only one gas meter for the entire building. In the past 12 month, the gas bill was $2,706 for the year or $225.50 per month. WHO PAYS FOR WATER? The owner pays for water. This building is on a metered unit. The estimated water bill is about $561 per year but that obviously varies depending on usage. WHAT IS MY ESTIMATED PROPERTY TAX BILL JUST WITH A HOMEOWNERS EXEMPTION? Presently, this property has three exemptions on it. Your property tax bill will be about $3,813 per year with a homeowners exemption. IS THIS AN AS-IS, WHERE-IS SALE? Yes, but you may conduct a home inspection for informational purposes only. Show and sell. Easy to show. A 10!