This is not an investor property but perfect for a small contractor. The value-in-use is there for a landscaper, arborist excavator etc. who will use the garage and parking. 6-family with 1,600 SF concrete block garage (clear span, 10' interior height), large paved parking lot behind the building on dead end in the Cove area of Stamford. Easily run a quiet business out of the garage and hide a bobcat; trailer or tri-axle back there too. Bonus: basement unit adds a little more income, and two additional residential units can be added over the garage or on the end of the existing 6-family structure. Rents are a little low on some of the units. Expenses estimated at 30% of gross income. All utilities are separate and paid by tenants except taxes, insurance, common area lights and water/sewer. Taxes are only $11,500 so 30% expense ratio may be high. Building is rentable the way it is but needs TLC over time.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
