61 Thorp Street
Multifamily | 6 Units | $93,333/unit
Marketing description
This exceptional six-unit apartment building has had an impressive makeover complete with remodeled kitchens and baths, luxury vinyl flooring throughout, new carpets in all bedrooms, and new windows for years of value. Six new refrigerators will be added to the kitchens, and six new gas water heaters have hot water at the ready for everyone. Three apartments are heated by gas, and three by electric baseboards, and new heating systems are cost-friendly to occupants. During kinder seasons, tenants can enjoy the covered porches facing the large backyard. Excellent cap rate of 11% on pro forma based on market rents of $1300, yet HUD has approved rents of up to $1400.00. Located in an area approved for congregate living.
Investment highlights
New heating system, new carpeting in the bedrooms, new luxury vinyl plank flooring in all other rooms. Updated kitchens and baths. New windows. New gas water heaters (6).
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