$73,500 GROSS INCOME | $57,891 NOI | 10.52% CAP RATE at $550,000. Impressive, fully renovated 5-unit investment property offering strong cash flow, attractive curb appeal, a highly rentable unit mix and limited near-term capital exposure. Prominently positioned on a corner lot, the property presents beautifully from the street with its classic architecture, bright exterior, distinctive roofline and substantial residential presence.
Current and projected rents total $6,125 per month across 1, 2, 3 & 4 bedrooms units. This diverse unit mix broadens the tenant pool and reduces reliance on any single apartment type. Ownership recently completed an extensive renovation exceeding $100,000, creating a clean, refreshed and professionally improved asset ready for continued operation.
Improvements include luxury vinyl plank flooring, interior painting, drywall repairs, updated kitchens and bathrooms, new lighting and electrical fixtures, plumbing repairs including replacement of a section of the main sewer stack, new exterior entry doors, select interior doors, replacement windows, roof repairs, pressure washing and exterior enhancements.
Two kitchens were fully remodeled, two additional kitchens were refreshed, four bathrooms were refurbished and one bathroom was completely remodeled. The renovation preserved the property's strongest original features, including hardwood floors, rich wood trim, bay windows, exposed brick and generously proportioned rooms.
The result is a compelling blend of historic character and updated finishes that photographs well, shows well and gives the building a level of charm that many competing multifamily properties lack. For an investor, this property offers the key advantages ownership should provide: immediate income, diversified rent streams, substantial recent capital improvements, low reported operating expenses and a-10% projected cap rate at the asking price.
Public water and sewer, included appliances, large layouts and strong local rental demand further support operational stability. Full lease up in place post renovation. This is not a basic five-unit requiring years of deferred maintenance and constant renovation.
It is a substantially improved, visually appealing income property positioned to deliver cash flow from day one while offering the durability, tenant demand and long-term wealth-building benefits investors seek. Financials reflect actual and projected rents; buyer to verify all figures. Seller is a licensed agent.
