The offering has a unique structure that consists of Two attached 1-Bedroom/1-Bath Bungalows, a 1-Bed/1-Bath Standalone Cottage, and a detached 3-Bed/1-Bath House totaling 2,568 rentable square feet. Select units have undergone recent improvements that include new bathroom vanities and hardwood flooring. The exterior has recently been updated with new garage doors, sewer lines, solar security lighting, fencing, and security doors. In addition to a desirable detached unit structure, which commands a rental premium compared to a traditional apartment building, the property features an income-generating leased laundry room, Four Single-Car Garages that are included in the rent, and a tuff shed storage unit that can be rented out for additional income. Through capitalizing on renting the aforementioned amenities at market along with renovating the units; an investor can achieve a +30% upside in gross income. To make this deal even more enticing, the property sits on a large 10,590 square foot (.24 Acres) lot, where there is the potential to convert the garages and additional space into Accessory Dwelling Units to maximize the future value and income at the site.

Listing courtesy of Marcus & Millichap



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Data last update at 2023