121 Laurel St
Mixed Use | 7.40% CAP | 1,876 SqFt
Marketing description
Exceptional mixed-use investment opportunity offering immediate income with additional upside potential. This well-maintained three-unit commercial property features a street-level commercial space, currently occupied by a single-chair salon, along with two residential apartments and two detached garages. The residential units include a spacious one-bedroom apartment currently leased for $900 per month and a vacant two- to three-bedroom apartment that was previously rented for $1,500 per month, providing an excellent opportunity for an owner-occupant or the ability to increase cash flow immediately. The commercial salon space is leased for $575 per month, creating a diversified income stream.
The property has seen several important updates, including nearly all replacement windows and a Lead Safe Certification obtained through the city last year, offering added value and peace of mind. Both residential units include existing washer and dryer hookups that can easily be exposed again, providing a desirable amenity for future tenants. The owner currently pays water, sewer, trash, and common area electric. With two garages providing additional storage or rental potential, stable existing tenants, and a vacant unit ready for occupancy or lease, this property presents an excellent opportunity for investors seeking both current income and future growth.
Investment highlights
- Exceptional mixed-use investment opportunity offering immediate income with additional upside potential
- Well-maintained three-unit commercial property features a street-level commercial space, currently occupied by a single-chair salon, along with two residential apartments and two detached garages
- Spacious one-bedroom apartment currently leased for $900 per month
- Vacant two- to three-bedroom apartment that was previously rented for $1,500 per month, providing an excellent opportunity for an owner-occupant or the ability to increase cash flow immediately
- Commercial salon space is leased for $575 per month, creating a diversified income stream
- Nearly all replacement windows and a Lead Safe Certification obtained through the city last year
- Both residential units include existing washer and dryer hookups that can easily be exposed again
- Two garages providing additional storage or rental potential
- Stable existing tenants, and a vacant unit ready for occupancy or lease
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