Description
Exceptional investment opportunity! This 5-unit, 2-building apartment complex offers an outstanding unit mix. Property boasts 2 2BD/1BTH units, with 1 unit having the potential to be turned into a 3BD! There are also 3 cozy 1BD/1BTH units & 4 garaged parking spaces! Unit 529 blueprints have recently been remodeled & 4 out of the 5 units have undergone renovations. Prior to the residents' move-in dates, detailed photos were taken, capturing the units' excellent condition. Stability is ensured with the current residents, with 4 out of the 5 committed to 1-year leases. Moreover, 3 out of 6 electrical panels have been upgraded & the rear roof was recoated in 2022. A separately metered laundry room within the garage ensures that power bills are individually tracked/managed for each unit. The current CAP rate of 6.01% translates into over $4500 in monthly cash flow. With stable income & promising returns, this property is poised to be a lucrative addition to your portfolio.
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6BEDS
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0.13ACRES
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4BATHS
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01/2 BATHS
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4,010SQFT
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$162$/SQFT
School Information
Description
Exceptional investment opportunity! This 5-unit, 2-building apartment complex offers an outstanding unit mix. Property boasts 2 2BD/1BTH units, with 1 unit having the potential to be turned into a 3BD! There are also 3 cozy 1BD/1BTH units & 4 garaged parking spaces! Unit 529 blueprints have recently been remodeled & 4 out of the 5 units have undergone renovations. Prior to the residents' move-in dates, detailed photos were taken, capturing the units' excellent condition. Stability is ensured with the current residents, with 4 out of the 5 committed to 1-year leases. Moreover, 3 out of 6 electrical panels have been upgraded & the rear roof was recoated in 2022. A separately metered laundry room within the garage ensures that power bills are individually tracked/managed for each unit. The current CAP rate of 6.01% translates into over $4500 in monthly cash flow. With stable income & promising returns, this property is poised to be a lucrative addition to your portfolio.
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