$100 (*More Info)
$359,999
Under contract-accepting backup offers. Investors and creative financing enthusiasts, this multi-family property presents a compelling opportunity to build immediate cash flow with significant upside potential. This four-unit building features three one-bedroom/one-bathroom units and one two-bedroom/one-bathroom unit, offering a total of five bedrooms and four bathrooms across the property. The Upside: The numbers speak for themselves. One-bedroom units command $1, 100 per month, while the two-bedroom unit can achieve $1, 250 to $1, 300 monthly. Fully occupied, total potential revenue reaches $4, 550 - $4600 per month against a mortgage of just $2, 467.40, yielding an estimated gross cash flow exceeding $2, 082 monthly. Unit 2 is currently occupied and generating $1, 100 in rental income. All appliances are included, the water heater was replaced in 2023, and most window AC units have been updated since 2023. Utilities operate on a single meter, and the seller currently covers rodent and pest control monthly—a manageable expense for the next owner to assume. Potential Cap Rate of 12% and COC of 5.8%. The Work Needed: This property is livable with no major structural concerns, though it does present cosmetic and minor repair opportunities. The floor in Unit 4's main room has some sloping. Window upgrades throughout the building would enhance efficiency and curb appeal. The back porch stairs could be redone, and Unit 2 has a bedroom window replaced with plexiglass and bars. Units 1, 3, and 4 are currently vacant and ready for turnover improvements to maximize rental potential. The Opportunity: The seller is actively entertaining all creative financing offers, including seller financing and other flexible deal structures. This is a rare chance to acquire a cash-flowing multi-family asset with built-in equity upside through strategic renovations. Whether you are a seasoned investor or building your portfolio, this property deserves your immediate attention. Bring your best creative offer today. No assignable contracts.
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