RENT INCREASES JULY 1ST !!! ($4,440 annually) Well-maintained 6-unit multi-family in an excellent location near EastWorks and Downtown, offering strong upside potential. The property features a low-maintenance exterior and interior, is clean and well cared for, with a new roof membrane (Aug 2020) and a newly renovated back staircase/fire escape (Apr 2026).Long-term tenants with no leases provide flexibility for rent increases. Unit 3R, the 6th unit, is a 2-bedroom, 1-bath with kitchen and living room, gas heat, and a new refrigerator (Apr 2026), currently rented at $1,110/month. Tenants own washers/dryers; all other appliances are landlord-owned.Current cap rate is 5.9% (increased .4%), with rents below market ($1,600–$1,729). Pro forma cap rate reaches 8.5% at $1,600/month. Fire Department requires buyer to install a Fire Notification Panel. This is a solid investment opportunity with stable occupancy, minimal upkeep, and significant income growth potential in a highly desirable area.
5,832 Sq Ft
3,485 Sq Ft Lot Size
investment
US$677 Monthly Tax
Built in 1910
MLS/Listing ID 73504629
5 Stories
6 Units
Parking - Tandem
Parking - Off Street
Parking - Paved
Lot - Level
Lot - Corner Lot
Washer Hookup
Electric Dryer Hookup
Walk-in Closets
Pantry
Smart Thermostat
Heating - Electric
Heating - Natural Gas
Heating - Forced Air
Refrigerator
Dishwasher
Range
Vinyl
Balcony - Deck
Storm Door(s)
Insulated Doors
Community - Private School
Community - Public School
Community - Sidewalks
Construction - Brick
Cooling - Window Units
Rubber
Skylights
Public Sewer
Public Water
Hardwood
Brick Mortar
Thermostat
Community - House of Worship
Community - Bike Path
Community - Laundromat
Community - Walk/Jog Trails
Community - Park
Bathroom with Shower Stall
Varies per Unit
Screens
Insulated Windows
Washer and Dryer Hookup
Living Room
Community - Shopping
Community - Public Transportation
TOTAL MONTHLY COST
US$0
US$0
US$0