Property Description

Excellent investment with future development potential! Featuring an 8-unit multifamily property with approximately 6,797 square feet of living area and strong existing cash flow. The unit mix consists of four 2-bedroom units, two 4-bedroom units, one 1-bedroom unit, and one studio apartment, providing a diverse rental mix. The property features new windows, ample off-street parking, and on-site coin-operated laundry. Several units have been recently updated, Beyond the existing income-producing building, the property sits on 1.21 acres that offers significant potential for future expansion, with preliminary concepts exploring the possibility of adding approximately 7, 20, or as many as 30 additional residential units, subject to zoning, permitting, engineering, and municipal approvals. This creates an opportunity for an investor or developer to acquire an established multifamily asset with immediate cash flow while pursuing additional density and long-term value. Conveniently located near area amenities, shopping, and major routes, this property offers a compelling combination of existing rental income, abundant off-street parking, unit diversity, and future development potential.