High-Yield 5-Unit Multifamily in Havana – Strong Current Cash Flow with Upside 5-Unit Multifamily | Value-Add Opportunity | Current Cap ~12.6% | Pro-Forma Cap ~15.2% Step into solid cash flow with room to grow. This five-unit multifamily property at 115 E Market St offers a balanced mix of one-bedroom and efficiency units plus a 2-bedroom, making it attractive to a wide tenant base. With recent capital improvements, simple utility structure, and clear value-add paths, this is a great opportunity for both new and experienced investors. All units are currently electric baseboard heat with window A/C units, keeping mechanicals simple and low-maintenance. Tenants pay their own gas and electric, while the landlord covers water and trash, making expenses predictable and easy to manage. Unit Mix: 1 bed / 1 bath 2 bed / 1 bath 1 bed / 1 bath Efficiency / 1 bath Efficiency / 1 bath Financial Snapshot (R-12, Nov ’24 – Oct ’25) Current Performance (R12): Monthly Gross Rent: $2,830 Annual Gross Rent: $33,960 Annual Operating Expenses: $11,226 Current NOI: $22,734 Current Cap Rate: ~12.6% Pro-Forma (Stabilized & Light Improvements): Monthly Gross Rent (Target): $3,210 Annual Gross Rent (Target): $38,520 Estimated NOI: $27,294 Pro-Forma Cap Rate: ~15.2% Current is based on the past twelve months’ financials with rent adjusted for actual occupancy; pro-forma assumes modest rent increases and stabilization. Recent Capital Improvements New roof Newer appliances in several apartments New flooring in Unit 2E Known / Optional Future Improvements Cosmetics: New carpet in hallway and staircase Unit 1E: Add footer to support and level one wall/floor area; replace kitchen flooring General cosmetic refreshes as units turn Professional management & lease optimization: Tightening up leases and aligning rents with market levels can push returns toward the pro-forma cap rate. This 5-unit offers strong returns from day one with clear, manageable paths to increase value. Reach out today to review full financials and schedule a tour of 115 E Market St.
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