Description
INVESTORS TAKE NOTICE! Exceptional opportunity to own a fully renovated, fully occupied 50-unit multifamily asset with below-market rents and tons of upside potential. Three all-brick buildings (20, 15, and 15 units) feature a balanced mix of 6 townhouses, 8 studios, 6 one-bedrooms, 16 two-bedrooms, and 14 three-bedrooms. Originally built in 1959 and completely rebuilt to the studs in 2006 with over $4M invested. Major updates include new roofs, windows, plumbing, electrical (60-amp subpanels per unit), kitchens, and baths. Features dual-fuel hot water baseboard heat, tenant-paid electric with electric stoves, and energy-efficient insulation upgrades. Amenities include 3 laundry rooms ($1.50/load), 6 ADA-compliant units, fire alarm system, secured gated parking with pass card access, and on-site office/storage space. Turn-key, strong cash flow asset with significant rent growth potential.
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