1951 Upham Street
Multifamily | 7.10% CAP | 7 Units
Marketing description
1951 Upham St. is a 7-unit apartment community built in 1961 with recent updates to interiors, roof, parking lot, sprinkler system, fence, and exterior stairs. The building is composed of all 2 and 3 bedrooms units. Pride of ownership is clearly apparent in this well maintained property. Tenant retention has been strong and there is potential rent upside as evidenced in 0% historical vacancy over the last 3 years.
The property is in a growth location roughly 1 mile from the Wadsworth Light Rail Station. A strong draw to this deal is the assumable loan option with a 4.1% interest rate fixed through 2031. With this path, there is potential for 10% cash on cash return for an owner manager. This is a rare opportunity to buy a well-maintained property that will continue to improve over time.
Investment highlights
- Pride of ownership – well maintained property
- 0% historical vacancy in over 36 months!
- Loan assumption with 4.1% interest through 2031 available
- Recent updates to interiors, roof (2024), parking lot (2025), windows, boiler, laundry, sprinkler system, fence, and exterior stairs
- All 2 and 3 bedroom units
- Roughly 1 mile from Wadsworth Light Rail Station
- Potential 10% cash on cash return for an owner manager
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