23-25 Division St
$1,325,000
8
Beds
4/2
Baths
3,435
Sqft
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$1,325,000
8
Beds
4/2
Baths
3,435
Living Area
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Property Description
23-25 Division St is a five unit mixed-use building comprised of one commercial unit on the first floor leased to El Carriel Bar, and four 2-Bedroom/1-Bathroom units. The building’s utilities are separately metered for electricity, heat, and hot water which the tenants pay directly. The landlord is responsible for domestic water and sewer and the commercial unit reimburses 66.67% of this expense (from 9-11 Williams/23 Division only). The building has been well maintained during ownership. El Carriel has been at this location since 2018 and just exercised a 5-year renewal option, demonstrating their commitment to the site and the market. Their lease calls for attractive annual increases in rent, protecting against rising operating expenses and providing a hedge against inflation.
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Highlights
- Levels: 8
- Property Type: 5-9 Family
- Total Rooms: 18
- Status: Active
- Property Class: Residential Income
- Stories: 8
- Year Built: 1900
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Additional Details
- Foundation: Other
- Roof: Rubber
- Total Number of Units: 5
- Year Built Source: Public Records
- Lot Features: Corner Lot
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: W
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Amenities
- Waterfront Features: Beach Front, 1/2 to 1 Mile To Beach
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Utilities
- Electric: Individually Metered
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $1,132,600
- Tax Year: 2025
- Total Rent: $12,582
- Compensation Based On: Net Sale Price
- Taxes: $18,235
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Listing information provided courtesy of Horvath & Tremblay.
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