RE/MAX MI CASA
Listed by RE/MAX MI CASA
$650,000
4400-4402 S HONORE Crest
Details
APN 20064070220000
Property Type Retail, Multifamily
Sub Type Storefront, Apartment Building
Units 9
Cap Rate 4.82%
NOI $59,600
Year Built 1909
Stories 3
Lot Size (SqFt) 5,800
Zoning MULTI
Retail | 4.82% CAP
Marketing description
Excellent investment opportunity in the New City area! This mixed-use property offers strong income potential with 8 residential units plus 1 storefront, providing multiple streams of revenue. The building features a desirable unit mix, including two 4-bedroom units, one 5-bedroom unit, one 3-bedroom unit, and four 2-bedroom units, appealing to a wide range of tenants. Most apartments have been updated, and each unit is equipped with separate heat and electric, helping to reduce owner expenses and simplify management. The storefront is currently vacant, creating a great opportunity for an owner-user to start a business or lease for additional income. The property is well-maintained and currently occupied by long-term tenants, with rents below market value, offering significant upside potential for increased cash flow. No leases in place provide added flexibility for future plans. Conveniently located near major streets, public transportation, and local amenities. A solid opportunity for investors looking to build equity and maximize returns in a growing area. *FULL UNFINISHED BASEMENT*
Listing Contacts
RE/MAX MI CASA
Listed by RE/MAX MI CASA
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$59,600.00
$4,966.67/mo
Valuation Metrics
0
DSCR
9.17%
Cap Rate
9.17%
ROI
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