491 Knapps Highway

Description

Two family in Fairfield. Conveniently located by public transportation, as well as all the shops, restaurants and more that Black Rock Turnpike has to offer. Two one bedroom units. Each unit has space on both the main floor and the lower level. The lower level is technically a basement, but both units' lower level space are walk outs with an entry/exit door on the lower level, in addition to one on the upper/main level. The front unit is primarily on the upper level/main floor. It offers an enclosed porch, spacious kitchen, bedroom and living room, all with hardwood floors. Bathroom with tiled floor, granite countertop and tub shower. Laundry room and large storage room in lower level. The back unit is split evenly between the main level and the lower level. It offers a kitchen, living room, Office, bedroom and full bathroom. It also has a storage room/laundry room on the lower level. A 420 square foot garage is rented for an additional $250 per month. The garage lease expires at the end of this month. Front unit in yearly lease through April 2023. Back unit rented through August 2023. In total, $42,300 a year in gross income. Expenses are minimal. Current owner renovated both units in 2018. Insurance, maintenance and repairs cost roughly $2,600 per year. Neither unit has had a single vacant day since it was first rented in 2018. There is a massive demand for lower priced 1 bedroom rentals in Fairfield. Great opportunity for investors.