12.8% CAP Rate | Renovated 4-Unit Investment Opportunity
12.8% CAP Rate | Renovated 4-Unit Investment Opportunity
Marketing description
Rare opportunity to acquire a turnkey four-unit investment property consisting of two adjoining parcels sold together. The offering includes a three-unit building on Portland Avenue and a separate two-bedroom single-family residence with private access and a garage at 2316 Tyler Avenue. Together, the properties generate a strong trailing 12-month NOI of $39,220, reflecting a 12.8% cap rate under self-management.
Both properties have undergone extensive interior and exterior renovations, creating a low-maintenance investment with strong rental history and reliable cash flow. The Portland Avenue building features three spacious, updated units, each with laundry connections and individual floor heaters in every room for efficient, room-by-room climate control. Unit 2 has long-term tenants of more than two years who intend to remain, while Unit 1 was newly leased in October 2025.
Major improvements to the Portland property include newer roofing, siding, trim, windows, gutters, exterior paint, exterior lighting, landscaping, concrete repairs, updated PEX plumbing, new drain lines, and a 2024 water heater replacement.
The Tyler Avenue home was comprehensively renovated in 2024 prior to the current tenant’s occupancy and includes laundry connections, updated flooring, remodeled bathroom, new lighting, replacement windows, new siding, exterior paint, landscaping, updated electrical outlets and switches, fully replaced PEX plumbing, and a new roof and gutters installed in 2024. The home is heated by a powerful gas wall heater with built-in blower fan for efficient performance.
Both properties utilize window air conditioning systems and newer heating equipment, significantly reducing long-term HVAC maintenance and ownership costs. The Tyler Avenue tenant has an excellent payment history and intends to renew, further supporting the stability of the investment.
The properties share a water meter and must be sold together. This is an ideal opportunity for investors seeking a renovated, income-producing asset with strong in-place cash flow and minimal deferred maintenance.
Investment highlights
• Four total rental units across two adjoining parcels sold together
• Strong trailing 12-month NOI of $39,220
• 12.8% CAP rate under self-management
• Turnkey, income-producing investment opportunity
• Extensive interior and exterior renovations completed
• Three-unit multifamily building + separate 2BR single-family home with garage
• Stable tenant base with long-term occupancy history
• Tyler Avenue tenant intends to renew lease
• Unit 1 newly leased in October 2025
• Updated roofing, siding, windows, gutters, plumbing, lighting, flooring, and landscaping
• New PEX plumbing and updated drain lines
• Reduced long-term maintenance through simplified heating/cooling systems
• Laundry connections in all units
• Efficient room-by-room heating systems throughout
• Minimal deferred maintenance
• Shared water meter creates unified operational structure
• Ideal for cash-flow-focused investors seeking stabilized returns
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