This multifamily investment offers a compelling blend of stability and upside potential. Acquired in 2021 and self-managed since, the property has undergone consistent upgrades during unit turnovers. Improvements include modern appliances, new floor coverings, upgraded furnaces, central air systems, and enhanced bathroom finishes, resulting in units that are highly competitive within the local apartment market.
Tenant demand in the area remains robust, with minimal delinquencies and very rare evictions—a strong indicator of a reliable income stream. Current rents are below market as referenced in the CoStar report, presenting an opportunity for targeted increases. Additional revenue streams are achievable by implementing trash pass-through fees, increasing pet charges, and leasing 18 existing storage closets at average monthly rates of $20 to $25 each.
The property’s recent improvements ensure that future capital expenditures for HVAC systems, flooring, and appliances remain limited for years to come. Priced at $1,550,000 with a 5.64% capitalization rate, this asset represents both a stabilized investment and a value-add opportunity—a rare combination for investors seeking long-term growth and minimized operational risk