Value-Add 4-Unit Investment Opportunity with Strong Rental Upside! Well-located and partially updated 4-unit apartment building offering a great opportunity for investors seeking both immediate income and future growth. The property features a desirable unit mix of two 3 bed / 2 bath units with 1-car garages and two 2… Read More bed / 1 bath units, appealing to a wide tenant base. Current gross annual income is approximately $47,400 with 75% occupancy, as one unit is currently vacant and undergoing renovation--positioning the next owner to place a tenant at market rent. Significant upside potential: Under-market rents on Units C & D with $100-$300/month increase potential Strong market support for projected rents of approximately $1,300 (3 bed units) and $950 (2 bed units) Proforma gross income of approximately $54,000 annually Recent improvements include Unit A fully remodeled in 2024, Unit D remodeled in 2024, and Unit B currently being renovated, allowing for continued value enhancement. Unit C provides an additional opportunity for future updates and rent growth. Additional peace of mind with a newer roof (installed approx. 6 months prior to 2021 purchase). With a solid unit mix, ongoing improvements, and clear path to increased cash flow, this property offers an ideal blend of stability, upside, and long-term investment potential. Read Less
Courtesy of Adam Stark, Adam Stark Home Selling Team
Listing Snapshot
Days Online
53
Last Updated
Property Type
Multi Family
Lot Size
0.3 Acres
Year Built
1998
MLS Number
10072890
Additional Details
Basement
"Walk-Out Access"
Building
Built in 1998, 2,600 above grade finished area sqft, 2,600 below grade finished area sqft, Building area total: 4,600, 1 building, 2 stories, Construction materials: "Vinyl Siding", "Brick"
Cooling
"Central Air"
Heating
"Forced Air", "Electric"
Lot
0.3 acres
Parking
"Additional Parking"
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