Assumable Loan Available. Asking 255k a door in Prime Edgewater! Contact Agent for full Offering Memorandum.
MILPORT was originally constructed in 1972 and consists of 42 units on six different stories and is located in the highly desirable area of Edgewater. Only 12 of the 42 units have been remodeled with the remodeled units generating an average of 27% more than non-remodeled units. The property is currently situated on a 0.51-acre lot with 38,853 of rentable square feet. One exciting feature is the highly coveted T6-36 zoning allowing the opportunity for an investor to convert the property into a 36-story high-rise. The property has also been approved by the city for Short Term Rentals, allowing an investor to re-position the property and generate substantially more income.