Property Description

428-432 E 3rd Street consists of a three-story building containing nine (9) units comprised of nine (9), 1-Bedroom/1-Bathroom units with 6,018 square feet of living area in 8,024 gross square feet on a 0.06-arce parcel. The building has separate utilities and the tenants are responsible for their own electricity, gas heat and hot water. The units feature hardwood/luxury vinyl plank flooring, oak colored wood cabinets, and Formica countertops. The building also features coin operated laundry facility in the basement. The Property offers a potential value-add opportunity by duplexing the 1st floor units into the basement area. This configuration can significantly increase the livable square footage and bedroom counts improving overall building revenue. The Property has been well maintained and is currently leased at below market rates, offering the opportunity to increase rents to market rates via lease renewals.