Description
A business and housing investment opportunity. Large circa 1890 Victorian home celebrating 50 years serving the community. The Elizabeth Home provides a group home with municipal licenses for a congregate living environment for 16 residents that includes 3 nutritious meals daily, laundry, linen and housekeeping weekly. 100% occupied via lease and rental agreements, with some long time residents of 15-21 years. No permitting required when current usage continued. Fire and smoke detector systems, natural gas steam heat, updated electric, asbestos abatement of steam system and multiple egress ensure a safe and secure household for the 24+ rooms including 7+ bathrooms. The U-shaped home sits stately on a corner lot with 369 foot frontage, expansive front porch and hidden balcony deck. Annual rental income of $320,000. A 38x38 two-story carriage house has current additional lease to contractor, however it awaits creative upgrade ideas. Management provided. Excellent staff onsite.
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11BEDS
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0.53ACRES
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7BATHS
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21/2 BATHS
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6,900SQFT
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$101$/SQFT
School Ratings & Info
Description
A business and housing investment opportunity. Large circa 1890 Victorian home celebrating 50 years serving the community. The Elizabeth Home provides a group home with municipal licenses for a congregate living environment for 16 residents that includes 3 nutritious meals daily, laundry, linen and housekeeping weekly. 100% occupied via lease and rental agreements, with some long time residents of 15-21 years. No permitting required when current usage continued. Fire and smoke detector systems, natural gas steam heat, updated electric, asbestos abatement of steam system and multiple egress ensure a safe and secure household for the 24+ rooms including 7+ bathrooms. The U-shaped home sits stately on a corner lot with 369 foot frontage, expansive front porch and hidden balcony deck. Annual rental income of $320,000. A 38x38 two-story carriage house has current additional lease to contractor, however it awaits creative upgrade ideas. Management provided. Excellent staff onsite.
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2023-11-28T11:04:31.577.