Spectacular six unit recently renovated with all new kitchens and bathrooms. Unit mix is five one-bedroom and one studio apartment all with one full bathroom. Three story all-brick exterior, sitting on 0.13+ acres with off street parking lot. 100% fully rented with on-site coin operated laundry and a newer water heater and high efficiency boiler. The average one-bedroom rents are $1,296 and the studio is at $1,195. This asset is in turn-key condition with a stabilized in place cap rate of 8.63% along with a 7.94 gross rent multiplier. Perfect for the first time investor or for your next 1031 tax exchange.
Property Facts
Year Built: 1963
Square Footage: 5,500
Units: 6
Zoning: Multiple-family District
Parking: 6 Off-Street Parking Spots
Exterior: Brick & Stucco
Heating: Newer High Efficiency Boiler
Unit Description
5 - 1 bedroom, 1 bath - Approx. 700+ Sqft.
1 - Studio, 1 bath - Approx. 550+ Sqft
Property Improvements
2024: New Commercial High-Efficiency Water Heater
2024: New Weil McLain High-Efficiency Hot Water Boiler
2024: Complete Electrical Rewire Throughout Every Apartment
2024: Kitchen Renovations with Stainless Steel Appliances & Semi-Custom Cabinets
2024: Solid Surface Quartz Countertops
2024: All Six Bathrooms Gutted And Rebuilt Including New Insulation
2015: Total Flat Roof Replacement
Price: $750,000
