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$1,725,000
| Beds |
Baths |
Sq. Ft. |
Taxes |
Built |
|
0.00 |
0 |
$6,625 |
1999 |
|
On the market:
3 days
|
|
Recent price change: $1,825,000 |
View full details, photos, school info, and price history
Outstanding Investment Opportunity – 12-Unit Multifamily Key Highlights: • 100% occupancy – all units leased at $1,150/month, with increases to $1,250/month in late 2025. • NOI: $128,000 • Cap Rate: 7% • Management Fee: 5% • Fully renovated in 2024 – new roof,HVAC, interiors, and exterior improvements. • Lot size: 0.9 acres – room for laundry facility or self-storage units. • Tenants pay electricity and gas; owner pays water (~$500/month). • All units have washer/dryer hookups and individual metering. Financial Summary: Scenario Current Gross Income $165,600 Pro Forma -$180,000 NOI $155,000 Value @ 7% Cap-$2.214,286 • Immediate strong cash flow with current NOI of $128K. • Built-in appreciation of ~$385K from scheduled rent increases. • Low maintenance risk due to complete recent renovation. • Additional income potential from lot development.
Listing courtesy of Lou Wieland, Chapman Hall Realty
