About this property

Investor opportunity! This ~4,028 SF fourplex offers spacious 2-bedroom/1-bath units averaging roughly 1,000 SF each on a 0.34-acre site, providing substantial upside for an investor ready to complete repairs and return the property to productive use. Current market rent potential is estimated at approximately $1,000 per unit plus utility reimbursements, creating the opportunity for approximately $48,000 in annual base rental income once stabilized. The property is currently vacant and being offered as-is, with known deferred maintenance including foundation movement, roof replacement, HVAC replacement and unit make-ready repairs; utilities are currently off and buyers should perform their own due diligence regarding condition and repair scope. Interior unit renovation appears relatively limited compared with the major exterior and mechanical work, giving an experienced renovation buyer a head start. Separate electric meters, central HVAC, brick construction and large two-bedroom floor plans provide a solid foundation for repositioning the asset. This is an opportunity to acquire four rental units at an attractive basis and force appreciation through renovation, lease-up and improved operations.

Features and Additional Information