Property Description

374-378 Union Street is a three-story mixed-use building that contains six (6) units comprised of four (4), 2-Bedroom/1-Bathroom units and two (2), Commercial units. The Property is situated on a 0.23-acre parcel of land and features ten (10) on-site parking spaces at the rear of the Property. There is a limited supply of multi-family units in Norfolk County with a high demand for rental units. The Property is separately metered for electricity, heat and hot water, which the tenants pay directly. The Landlord is responsible for common area electric and domestic water and sewer. The opportunity exists to increase income via programmatic updates to the unrenovated units, common areas, and exterior. Pizza Shop has a new five year lease with one (1), 5-year option. The Lease calls for 3% annual rent increases throughout. The Print Shop's rent is below market, offering upside. The opportunity exists to acquire a well-maintained property with significant upside in a desirable location.