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
1
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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