Description
Value-add 11-unit investment opportunity with established income and multiple paths to stronger NOI. Nine units may support rent increases of approximately $25/month, adding about $2,700 in annual gross income. Based on stabilized underwriting, projected NOI is approximately $62,319, indicating a 7.12% cap rate at the $875,000 offering price. Recent operating history reflects elevated repairs and other non-recurring expenses, creating upside as operations normalize. Deferred maintenance, including exterior paint and a roof that may require attention in the near future, gives a new owner the opportunity to improve curb appeal, strengthen the asset and enhance long-term value. On-site laundry and established rental history add to the appeal. Financials available. Buyer to verify all information.
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1BEDS
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0.24ACRES
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2BATHS
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01/2 BATHS
School Information
Description
Value-add 11-unit investment opportunity with established income and multiple paths to stronger NOI. Nine units may support rent increases of approximately $25/month, adding about $2,700 in annual gross income. Based on stabilized underwriting, projected NOI is approximately $62,319, indicating a 7.12% cap rate at the $875,000 offering price. Recent operating history reflects elevated repairs and other non-recurring expenses, creating upside as operations normalize. Deferred maintenance, including exterior paint and a roof that may require attention in the near future, gives a new owner the opportunity to improve curb appeal, strengthen the asset and enhance long-term value. On-site laundry and established rental history add to the appeal. Financials available. Buyer to verify all information.
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