Description
INCREDIBLE INVESTMENT OPPORTUNITY! This massive property is zoned RM-1 which means it can be converted by right into a 4 unit income producing property. With increasing rents and demand, this submarket will yield great returns year over year. Seller has plans for a 4 unit conversion as it is currently a 10 bedroom rooming house. Plans include 2 (1) unit apartments, 1 (2) bedroom, and 1 (3) bedroom unit all with laundry in unit. With market rate rents this building can bring returns anywhere from an 8% to 9% cap rate. Quadplexes in the area are selling for top dollar, do not miss out on this incredible opportunity!
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10BEDS
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0.03ACRES
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3BATHS
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01/2 BATHS
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2,100SQFT
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$131$/SQFT
Description
INCREDIBLE INVESTMENT OPPORTUNITY! This massive property is zoned RM-1 which means it can be converted by right into a 4 unit income producing property. With increasing rents and demand, this submarket will yield great returns year over year. Seller has plans for a 4 unit conversion as it is currently a 10 bedroom rooming house. Plans include 2 (1) unit apartments, 1 (2) bedroom, and 1 (3) bedroom unit all with laundry in unit. With market rate rents this building can bring returns anywhere from an 8% to 9% cap rate. Quadplexes in the area are selling for top dollar, do not miss out on this incredible opportunity!
©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Lisa Mathena Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-03-20T08:50:15.757.