EAST STREET SOUTH New Providence/Paradise Island

    $ 450,000.00

    • MLS #: 45171
    • Type:
    • Status:
    • Location: East Street
    • Island: New Providence/Paradise Island
    • Year built: 1993
    • Area: 2916 sq ft

    Description

    Lot #106 is 5,000 sq ft in size. It is zoned commercial or multifamily. The building thereon is 2,916 sq ft under roof and is constructed of reinforced concrete. It is 28 years old and in good condition. There is adequate parking. Situate on busy East Street South next to the new Burger King, it is ideally suited for its current or other commercial and multifamily purposes. It is currently occupied by and generates rental income from 4 units as follows: 1.Ground Floor – Church 2.Rear of ground floor – One (1) one bed one bath apartment 3.Upstairs two (2) two bed one bath (2/1) apartments on the upper floor. Especially now with economic growth returning, whether acquired individually or together with the building on lot 108 to its north, this can be the ideal investment to deliver your desired ROI. For an investment of $450,000 and net rental income approximating $31,000, you will generate a cap rate of 6.9%.

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    Features

    Amenities:
    • Air Conditioning Part
    • Fenced

    Miscellaneous

    • Legal Description: LOT 106 OF JOAN'S HEIGHTS SUBDIVISION AND BUILDING THEREON ON EAST STREET SOUTH

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    Disclaimer

    Courtesy of The Bahamas MLS
    The Bahamas Real Estate Association is not responsible for the accuracy of the information listed above. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange Program (IDX) and the Bahamas MLS, and is provided here for consumer’s personal, noncommercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing or leasing. Real Estate listings held in brokerage firms other than the office owning this website are marked with the IDX Logo on the short inquiry. Data provided is deemed reliable but not guaranteed. This information is protected by copyright and all rights are reserved. This property is shown courtesy of The Bahamas MLS