Property Description

Offers due Mon, Jan 12 by 11 AM. ATTENTION INVESTORS! This is a rare opportunity to own a stabilized, clean and respectable four unit building in the desirable college town of Amherst. This CASH COW features separate water and electric meters for each unit, making it easy to reduce landlord expenses. The building is fully occupied with leases signed for units 1, 2, and 3 through 5/31/2027 and unit 4 is in the process of getting a re-leased though 5/31/2027 as well. The current monthly rent roll is $7,500 per month with tenants paying for electricity (which includes heat and hot water) and the landlord only pays for water and common area expenses, including landscaping/snow removal, trash, and laundry room lights, heat and water. The NOI is around $80,000 a year. At a 7% cap rate, the price should be $1.1M! This is a fantastic deal for investors of any size to add to their portfolio, not to mention potential expansion, renovation, or exploration of ADU possibilities with this HUGE lot.