Wilmington Apartment Building

This real estate sale offers an excellent investment opportunity to purchase a 5 unit apartment building in Wilmington, NY.  Many of the units have decks and there are two separate areas with ample parking for over 8 vehicles. The large and very private backyard is level with woods bordering the property and there is a storage shed for lawn equipment.  The apartment tenants pay their own utilities and all of the apartments are on a month to month lease. The current owner has not increased rents and below market rents have remained in place for the tenants who have remained in the building for many years.  A new owner could increase current rent prices to current market rent rates with a months notice and have a potential for an annual rental income from this building in excess of $40,000.