Description
Turnkey 8-unit apartment building with all units renovated. Major improvements include a roof approximately 10 years old, vinyl replacement windows throughout, and new balconies installed within the last 5 years. All furnaces have been replaced within the last 6 years, and 4 of the 8 hot water tanks are new, reducing near-term capital expenses. The property has currently 6 units leased with 2 vacant units in the process of being turned. Tenants are already lined up for the vacant units, allowing for quick stabilization. The entire building is electric, which is paid by tenants, owner pays common area electric (roughly $120/month). Fire extinguishers were inspected, serviced, or replaced in 2024. There is additional value-add potential through updating the common hallways, offering further upside. Well-maintained, stabilized asset with strong rental demand.
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16BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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7,400SQFT
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$74$/SQFT
School Information
Description
Turnkey 8-unit apartment building with all units renovated. Major improvements include a roof approximately 10 years old, vinyl replacement windows throughout, and new balconies installed within the last 5 years. All furnaces have been replaced within the last 6 years, and 4 of the 8 hot water tanks are new, reducing near-term capital expenses. The property has currently 6 units leased with 2 vacant units in the process of being turned. Tenants are already lined up for the vacant units, allowing for quick stabilization. The entire building is electric, which is paid by tenants, owner pays common area electric (roughly $120/month). Fire extinguishers were inspected, serviced, or replaced in 2024. There is additional value-add potential through updating the common hallways, offering further upside. Well-maintained, stabilized asset with strong rental demand.
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