Property Description

Fantastic opportunity for the savvy investor! This 9-unit investment property consists of two buildings situated on one lot: a two unit building plus a larger building containing seven additional units. An excellent opportunity for a 1031 exchange or for an investor looking to add a substantial income producing property to their portfolio. Current rents support approximately an 8.5% cap rate.The property consists of five 2-bedroom units, two 1-bedroom units, one 4-bedroom unit, and one commercial space, currently occupied by a hair salon. The property benefits from a strong history of long term tenancy, with some tenants having occupied their units for as long as 25 years. Additional improvements include updated furnaces and water heaters. The seller has Letters of Lead Compliance and has also had the locks keyed so that one key provides access throughout the property, simplifying management. An added bonus is a large workshop/office space designated exclusively for owner access, providing valuable space for property management, storage, maintenance supplies, or a private workspace. A massive parking lot with approximately 15 parking spaces provides ample off-street parking for tenants and the commercial space. A rare opportunity to acquire a sizable, established rental property with strong income potential. Call today to schedule your private showing!