2256-2260 Winchester Ave Ashland KY 41101

and

2266-2272 Winchester ave Ashland KY 41101

$390,000 or best and highest offer (taking all offers)

4 Buildings next to each other

10,000 net rentable SQFT for mini storage

2,500 sqft each building + additional 4 apartment units on top of the storage facility, which is additional 2k sqft (each apartment is 500 sqft)

Building A - $1600/month (22/25 units are climate control) all occupied (tenants pay electric for climate storage units)

Building B - $1225/month (17/20 units occupied)

Building C - $275/month (24 units and 1 furnace unit)

16/24 vacant

2/24 units are being used by tenants renting out apartment 3 and 4

Building D - 2500 sqft and is being used as a shop by the owner which can be converted into additional storage units (~ additional 10-20), it will be delivered empty (owner may just need to rent for 1 month after closing to move his belongings out)

Apartment 1 - $600

Apt. 2 - $500

Apt. 3 - $500

Apt. 4 - $600

$3100/month rent right now from storage units

$2200/month rent from apartment units

$5300 total gross per month

Value add opportunity:

20 units vacant & most are well below market value rents since he grandfathered some of tenants he never raised their rent

50/70 occupied - 71% occupancy

(Mismanaged and had no desire to rent out vacant units or raise old rents)

Expenses:

April 2023 water bill - $190

Electric

2256 Winchester - $119.54

2260 Winchester - $74.73

2272 Winchester - $255.16

Taxes est ~ $2.281

MESSAGE ME FOR FINANCIALS

🔥Contact me today at 586-556-1365 to set up a walk through and to submit your highest and best offer🔥

BUYERS ARE REQUESTED TO DO THEIR OWN DILIGENCE ON THIS PROPERTY. YOU MUST VERIFY ALL INFORMATION PROVIDED INDEPENDENTLY.

● Buyer pays all closing costs

● Get in touch with us now!

NOTE: YOU ARE STRICTLY PROHIBITED FROM CONTACTING ANY SELLER.

Make an Offer: Submit your offer and information at the top of this screen by clicking "Make an Offer".

Contract: A contract will be delivered electronically once an agreement has been made and must be executed by Final Buyer within 24 hours. Once the contract is signed, we will introduce you to our third party Title Company we use who will help facilitate the closing process.

Earnest Money Deposit (EMD) must be wired to the Title Company within 1 day of Contract signing.

Closing Costs: End Buyer will pay all closing costs and will be outlined on the final settlement statement of the deal. 

💪 YOU CAN CLICK THE 🙌 WIN IT NOW BUTTON AND AVOID ALL THE BIDDING (WHICH WILL HAPPEN ON THIS DEAL) AND 🔐 LOCK IT DOWN RIGHT NOW 💥

DISCLAIMER: This is an Assignment of Contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT Brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.