22-unit studio apartment building with strong cash flow and value-add potential. T-12 through May 2026 reflects approximately $189,000 NOI. Property features numerous upgrades, including plank flooring, LED lighting, composite decking, and four sets of coin-operated laundry equipment generating additional income. Opportunity exists to further increase revenue through operational improvements, potential heat pump installation, and possible expansion of basement space (subject to buyer verification, permits, and approvals).Property appraised at approximately $2.5M in 2023 prior to subsequent improvements and rent growth initiatives. Located in a desirable rental market with limited multifamily inventory. Seller financing, hard money, sale-leaseback, and other creative structures may be considered.
6,696 Sq Ft
0.68 Private Acres Lot Size
investment
$1,380 Monthly Tax
Built in 1965
MLS/Listing ID 73534182
2 Stories
22 Units
Parking - Paved
Shingle
Public Sewer
Public Water
Community - Public Transportation
Community - Park
Construction - Brick
Concrete Perimeter
TOTAL MONTHLY COST
$0
$0
$0