Significant Rental Upside Secluded 2 BR/2BA Units
Multifamily | 1.86% CAP | 5 Units
Marketing description
The Property is an attractive 5-unit Building comprised of 2 stories consisting of approximately 5,000 square feet and resting on 2 parcels totaling 6,317 square feet. The Property includes 2 Town House Units and 3, 2nd story units that rest on top of 6 parking spots comprised of 4 garages and one 2-car tuck under parking area. The parking/driveway area is concrete. Situated behind what will be a new 11-unit 'for sale' development, the property rests off of Pine and is not exposed to street traffic.
Situated just to the North of Bell High School, the Property rests in a low-density clean residential neighborhood comprised of low-density single-family and multi-family living units and is just South of Gage Avenue. The Property is situated behind a 'tear down' 4-building property that is for sale by the same Seller to be developed into an 11-unit 'for sale' townhome/condo development
Investment highlights
- Modern Approximate 5,000 SF building with five apartments, including 1 2BR/2ba Townhome, three 2/BR/2BA, and one 1BR/1BA Units
- Secluded location for enjoyable tenant living
- Appealing 1990s construction with Garages
- Next Door Proximity to future development with pending adjacent 'For Sale' Development project
- Rents are currently at 50% of market value
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