4578 East 131st Street
100% Occupied | Immediate Cash Flow | Proven Value-Add Opportunity
Marketing description
100% occupied, cash flowing 12 unit complex with value-add upside! This newly updated 12 unit deal is perfect for the investor looking for solid, stable cash flow day 1, while still having easy value-add upside available through basic cosmetic updates and organic rent bumps!
Currently 100% occupied, grossing $10,740 in rent per month, an investor will walk into nearly a 9.5% cap rate AS IS. Proforma, a savvy buyer will easily achieve $12,500+ per month in gross rent, with the ability to implement parking fees and on-site coin operated laundry for additional income!
The unit mix is ideal - boasting (8) two bedroom units and (4) one bedroom units. (6) of the (12) total units have been totally remodeled including updated kitchens with granite countertops and new appliances, updated flooring including vinyl plank and new carpet, updated bathrooms with tiled shower surrounds and new vanities, as well as updated lighting throughout and completely refreshed common areas.
In addition, there are a number of new furnaces and wall unit AC's that have been installed, as well as a new parking lot, painted and refreshed garages, two completely new roofs installed in 2025, new carpet, paint and lighting in the hallways, and new exterior entry doors, and new common how water tanks!
Tenants are responsible for gas and electricity, while the owner pays water/sewer/trash and common area electricity and gas. A number of tenants are currently month to month as well, allowing a buyer to quickly start implementing their business plan.
Investment highlights
100% Occupied & Immediate Cash Flow – Fully leased 12-unit apartment building generating $10,740/month in rental income with an approximately 9.5% cap rate as-is.
Strong Value-Add Opportunity – Pro forma rents of $12,500+/month achievable through light cosmetic renovations, organic rent increases, and additional income streams including parking fees and coin-operated laundry.
Extensively Updated Asset – Six units fully renovated with modern kitchens, granite countertops, updated bathrooms, new flooring, lighting, and refreshed common areas, reducing near-term capital needs.
Major Capital Improvements Completed – Significant recent upgrades include two new roofs (2025), new parking lot, updated furnaces and A/C units, refreshed garages, new hallway finishes, exterior entry doors, and new common hot water tanks.
Desirable Unit Mix & Favorable Expense Structure – Comprised of (8) two-bedroom and (4) one-bedroom units, with tenants paying gas and electric. Multiple month-to-month leases provide flexibility to implement rent increases and execute a value-add strategy quickly.
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