Are you looking for a great multi-family investment opportunity? Look no further than this beautiful apartment building with 10 1-bedroom units, five on each level. With units that are in good condition, a new exterior paint job, and a new roof in 2017, this building is a gem.
One of the great features of this building is the shared laundry room, which generates an additional income of $720 annually. Furthermore, all units are on separate meters, and there are off-street parking spaces for all units, so your tenants will be able to park safely and securely.
As a landlord, you will only need to pay for electricity in the common areas and laundry room, while tenants will pay for their own electric. This means that you can enjoy the benefits of owning this property while keeping your expenses low.
The location of this building is another great advantage. It is situated in a prime location close to retail and commercial areas, making it an ideal spot for renters who want easy access to shopping, restaurants, and other amenities.
The vacancy rates for this building are less than 1%, and there is usually a waiting list for units. This means that you can be assured of a steady stream of rental income from this property.
The CAP RATE for this building is 6.1%, which is a great return on investment. Additionally, the building is professionally managed, so you can rest assured that your investment will be well taken care of.
In terms of utilities, water, sewer, and garbage are all included in the water category. The total rents for this building are $7,675 per month, which is a substantial amount of income that you can count on.
Investing in this apartment building is a smart financial decision that will pay off in the long run. By parking your money in this property, you can enjoy the benefits of appreciation while also generating a steady stream of rental income.
If you're interested in learning more about this property, don't hesitate to contact us. We would be happy to provide you with more information and show you around the building. With all the great features and benefits of this investment opportunity, we're confident you'll be impressed.
