Overview
Well-Maintained Four-Unit Multifamily Property
This multifamily property features four units and has been maintained by the owner for over 40 years. The property includes a metal roof on the front, installed approximately 7-8 years ago, with the shingled portion replaced in November 2024. Two newer furnaces, approximately 3 years old, and four new water heaters have been installed. The units feature laminate flooring, and the building and units are in good condition. Current rents are below market value, but all leases are expiring soon. Projected market rents total $4700, with potential rents of $1,200 for a two-bedroom unit (Unit 1), $1,000 for a one-bedroom unit (Unit 2), $1,000 for a one-bedroom unit (Unit 3), and $1,500 for a three-bedroom unit (Unit 4). Each unit has separate gas and electric meters. The parking lot has been recently repaved and provides 8 parking spots. The property also includes a fenced backyard and a 195' lot. City compliance is valid through 7/29/25. Many new windows have been installed. Unit 1 includes a living room, kitchen, eating area, bedroom, bathroom, bedroom, mud room, and mechanicals, with both bedrooms featuring walk-in closets, a walk-in pantry, new windows installed in 2024, an updated bathroom, and vaulted ceilings. Unit 2, located on the first floor at the back, includes a living room, kitchen, eating area, one bedroom, and a bathroom, and a furnace. Unit 3, located first on the right, includes a living room, kitchen, eating area, bedroom, bathroom, and play area. Unit 4, located upstairs, includes a living room, large kitchen, bedroom with a walk-in closet, and a dormer bedroom. This property offers potential for increased rental income.
