Rampart Cash Cow
Multifamily
Marketing description
Calling all investors! This well-performing seven-unit multifamily offers strong in-place cash flow with an estimated 10.6% cap rate at current rents. Fully renovated approximately eight years ago with additional updates since, the property blends historic character with modern functionality, featuring hardwood floors, high ceilings, abundant natural light, and a private backyard.
The flexible unit mix includes four studio units on the lower level, two one-bedroom units upstairs, and a spacious three-bedroom unit with dual balconies. Select units enjoy expansive windows and downtown views, while tenants benefit from a large front porch and on-site laundry.
Well-suited for long-term or mid-term rental strategies, this asset is located along a major corridor with convenient access to downtown, transit, and neighborhood amenities. Strong in-place income with documented operating history makes this an ideal opportunity for cash buyers, 1031 exchange investors, or those seeking reliable yield in a sub-$1M multifamily property.
*CONDOMINIUM CONVERSION POTENTIAL
The property may offer the potential to be converted into individual condominium units and sold separately, which could present a significant value-creation opportunity. Any buyer considering condominium conversion should conduct their own independent due diligence, including zoning review, legal feasibility, and approval requirements. Seller makes no representations or guarantees regarding condominium eligibility.
Offered at $775,000. Seller is firm.
Investment highlights
Financials available upon request. Property generates approximately $116,700 in annual gross rent with an estimated NOI of ~$82,000 based on current operating expenses. Please review insurance and utility structure as part of buyer due diligence.
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