For Sale

Description

INVESTOR'S DREAM WITH TENANT APPEAL – RENOVATED 3-UNIT MULTIFAMILY WITH OVER 10% CAP RATE! An incredible opportunity to own a fully renovated, high-performing 3-unit apartment building offering exceptional cash flow and long-term potential. Stripped to the studs in 2012, this property has been modernized with all the major upgrades already completed, making it turnkey for investors and inviting for tenants alike. INVESTOR HIGHLIGHTS: (1) 10%+ Cap Rate Potential with projected gross rents of $4,400/month (with room to grow with Optional Add-Ons: Basement can be monetized with coin-op laundry and/or storage for the tenants for additional income. A tenant has already expressed interest in renting the basement for $300/month. Or use the basement yourself for storage, or rent it out to a local contractor needing a convenient place for their tools & supplies). (2) Fully compliant: Rental License & Lead Paint Safe Certificates in place. (3) Upgraded Systems: Certified fire alarm system, updated sprinklers, and separate electric meters (plus house meter for common areas). No gas utility for simplified management. (4) Major Infrastructure Work Done: New sewer, water, and sprinkler lines all the way to the city connection. CURRENT UNIT BREAKDOWN: Unit 1 (Vacant, market-ready): Private side entrance, 2 beds, 1 bath, stylish central kitchen with dining nook. The owner has a prospect interested in the unit at $1,700/month. Unit 2: 2 beds, 2 baths, including a Jack & Jill layout bathroom for the front bathroom & an En-Suite bathroom for the rear bathroom, plus a bonus alcove for home office/study. Renewal at $1,700/month expected. Unit 3: Top-floor loft-style studio with soaring ceilings and private entry via shared hallway. Currently at $800/mo, increasing to $1,000/mo in November. TENANT-FRIENDLY FEATURES: (1) Each unit has its own Central Air system. (2) Attractive wood and tile floors throughout. (3) Fire-rated unit doors and solid construction for added peace of mind. (4) Dedicated access to a large shared yard and off-street parking. (5) Walkable to transit & shopping: Just 5 minutes to the Church St El Station, plus quick access to ALDI, Walmart, Lidl, Home Depot, and ShopRite. OWNER-OCCUPANT OPPORTUNITY: Take advantage of the rare chance to move into Unit 1 before it’s leased! Live in one unit while collecting rental income from the other two. This property checks all the boxes: strong financials, low maintenance, prime location, and modern upgrades. Whether you're an experienced investor seeking cash flow or a savvy buyer looking to live in one unit and rent the others, this building offers unmatched value and flexibility. Act now—this opportunity won’t last long!