Remarks

Savvy investors are being rewarded for their vision and appreciation of historic buildings as they reimagine the possibilities of these multifamily and multiuse properties and reap the rewards of possible tax credits and Historic District grants. There is a submission process with guidelines to follow. This historic property in downtown Cambridge is evidence that what has been working well in bigger cities can work in smaller towns as well. This beautiful building was built in 1888 and features a number of updates. The main level houses a 3000 sq ft retail, office or community space for which there is no shortage of ideas. There are six rental units with a combined income potential of $6150 or more with recent HUD increases. Updates include heating, drywall, kitchens, bathrooms and electric (2017). Two of the front units were completely renovated in 2022. A bit more renovation would maximize income potential. All units have access to off-street parking. Adjoining property is also available to purchase. This is a great investment opportunity!

Details

MLS#: 5014914
Price: $296,900

Style: Apartment
Sq Ft: 0
Year Built: 1888

County: Guernsey
Subdivision: Cambridge
Tax Fee: 5676

School District: Cambridge CSD - 3001