Overview
Income-Producing Multifamily Property
This income-producing multi-family property features stable in-place rents and future value-add potential in a central location. The property is zoned Business General and designated historic, potentially offering property tax advantages. It is located 0.6 miles from downtown, providing convenient access to shopping, dining, and services. The main residence, Unit 1, is a 5-bedroom, 3-bath home currently rented at $3,200 per month, utilities included. It features updated windows, original wood flooring, formal living and dining rooms, a dedicated laundry room, and a walk-out basement for storage. Three bedrooms offer private exterior access, allowing flexibility for rental, office, or live/work use. A separate two-story building contains two 1-bedroom, 1-bath apartment units. Unit 3 is rented at $1,400 per month, and Unit 4 is rented at $1,300 per month, both with utilities included. Each unit includes its own living space, kitchen, and private patio, suitable for long-term tenancy. Recent improvements include a newer water heater in Units 3 and 4, a newer wall heater in Unit 4, and recently serviced A/C in the main house. An additional unfinished area of over 1,000 sq. ft. offers upside potential for future income or expansion, subject to buyer verification. All three units are currently rented and operating under a utilities-included rental structure, providing simplified management and consistent occupancy. The property is offered in its current condition. The seller has completed prior inspections, including general inspection, radon, air quality, and sewer scope, with reports available for buyer review.
