Investment Real Estate Services

SOLD: Five Unit Apartment Building on Lake Street

106 18th Ave - David Nelson

Sold

– List Price: $1,950,000

– Sold Price: $2,160,000

– 5 Units (Four 1 bdrm’s, One 2 bdrm)

– 2 Private Parking Garages

– Enormous Upside Potential in Rents

106 18th Ave is a 1915 built Edwardian building in an excellent Lake District location at the corner of 18th Ave and Lake Street. The property consists of four one-bedroom apartements, one large two-bedroom apartment, and two private garage parking spots with laundry. The two-bedroom apartment is complete with a formal dining room and fireplace. All units feature original period detailing such as crown molding, hardwood floors (some are covered with carpet), built in shelving and more.

The wood frame and concrete foundation building is in excellent condition. The smoke detector system was redone and recertified in 2009. The exterior paint was redone in 2007. The interior carpet was replaced in 2013. The property is individually metered for gas and electric with electric baseboard heaters providing heat. The rooftop is tar and gravel. According to county tax records, the building contains 4,688 square feet of total space. Water and garbage are paid by the owner.

Download the full property statement HERE.

Showing schedule:

06/10/14 11:00 am – 12:30 pm First Tuesday Tour
06/12/14 3:00 pm – 4:00 pm Thursday afternoon showing
06/17/14 11:30 am – 1:00 pm Second Tuesday Tour
06/19/14 10:00 am – 11:00 am Offers due at 12:00 noon June 20th


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