Major Price Reduction! PROFORMA 8.2% CAP RATE! The beautiful property features two very well-maintained woodframe and stucco buildings with vintage, character architecture on a corner lot. Each building is two-stories and includes a mix of one-bedroom and two-bedroom apartments. The property features on-site parking with four individual spaces and an additional 4 tandem spaces, allowing for parking for 8 cars. As an investment, the Property offers investors a true value-add opportunity. With one unit vacant and fully renovated, the remaining units have rents that are well below the current market rates. Overall, there is projected upside of 73% or more in rental income that an investor can capture in the future with unit turnover and renovations. The Property is separately metered for gas and electric and also has individual water heaters, thus keeping expenses to the landlord very low.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
