Renovated 6 Unit w/ Strong Cash Flow, Ultra Low Taxes
Favorable Unit Mix on this Stabilized Apartment Building will be a great add to your portfolio.
Marketing description
This newly renovated (2021) 6 unit mixed use building has a very favorable unit mix featuring three 3 bed 2 bath units, two 2 bed 1 bath units and one commercial space with a full bath with near market rents in all units except 2. While there's some upside for the gross rents, this property is an easy armchair addition to your portfolio with positive cashflow and very little to no deferred maintenance. Professionally managed, by a licensed contractor - you’ll be inheriting a building free of city violations, filled with solid and well vetted tenants current on their payments. With one unit vacant (though lots of interest at $1,500/month) - the property is easy to show as initial showings will be of the vacant unit and common areas.
Investment highlights
There’s some upside potential with two units being well below market rent. The below market tenants are on MTM leases giving the new owner flexibility to increase or place their own tenants.
The property has been well maintained and will be transferring to the new owner in good condition. This could be a great candidate for a 10/31 exchange or an arms length add to your portfolio. Rent roll is included in the OM/Brochure.
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