Rare opportunity on this turn-key, profitable, cash-flowing property! Total of 18 two-bedroom units averaging approximately $1,130/month and roughly 800 sq. ft. each. 17 of the 18 units are currently occupied with tenants current on rent. Property features individual natural gas furnaces for each apartment along with separate utility setups, including… Read More individual water meters - ideal for efficient management and expense control. Each unit offers a private entrance and basement. Extensive updates throughout: 9 units have been fully renovated within the last 4 years, and 16 bathrooms have been completely updated. A new roof was installed across the entire complex in 2024 with a 20-year transferable warranty. Additional improvements include new concrete walkways in the courtyard, cultured stone on 9 porches, newly shingled porch overhangs, updated front exterior doors, glass block windows in every unit, newer gutters, trim, and exterior security lighting. The west side of the building also features a newer asphalt parking lot. 12 units include central air, and 10 units have newer furnaces. Security camera system in place for added peace of mind. One master key provides access to the building for convenience. Current mortgage may be assumable for qualified buyers at 7.0% or less interest rate. Please do NOT approach property or tenants without a confirmed showing appointment. Strong upside potential with projected NOI of $259,200 through rent increases on under-market units and leasing the remaining vacancy. Read Less
Courtesy of Keller Williams Somerset.
Listing Snapshot
Days Online
171
Last Updated
Property Type
Commercial/Industrial
Square Ft.
12,746
Lot Size
1.15 Acres
MLS Number
60980910
30 Days Snapshot Of 48341
$160k
0%
(avg) sold price
0
-100%
homes sold
24
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved Street
Building
12,746 square feet
Exterior Features
Brick, Security Lighting
Foundation
Basement
Water Features
Gas, Public Water
Heating
Forced Air, Natural Gas
Lot
1.15 acres, Lot size: 236x210
Property
Apartment Bldg, Residential, Multi-Family
Roof
Asphalt
Taxes
Total amount: $16,813
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