9.89% Return on Investment at asking! This 8-unit multi family apartment building is a great opportunity for a first-time investor. Long term tenants are all parked on M2M leases. Rents are all well below market--which represent immediate upside potential for any new owner. This asset actually contains three parcels and includes on site, off street, parking for the tenants. There are two long term tenants on SEC 8 who were recertified/inspected in Sept. and Nov. of 2020. The property has 7 one-bedroom units and 1 efficiency located on the lower level. The Seller is currently using that as a maintenance closet but has successfully rented it in the past and any new owner could too! Seller has always self-managed -any new owner could too --another reason this is a smart and EASY investment for any buyer. At asking, the property represents a 9.2% return and a strong 14.5% on proforma/market rents.
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