Opportunities like this don't come along often. This 6 unit brick apartment building has already cleared the hardest and most expensive stages of redevelopment, giving the next owner a rare chance to step in and focus on bringing the vision to completion.
The building has been completely gutted to the studs, exposing its impressive original brick construction, heavy timber framing, and solid bones. Major demolition is already complete, saving months of labor, permitting headaches, and unexpected surprises that often come with value-add projects. Even better, city-approved plans are already in place, allowing you to move forward with confidence instead of waiting through a lengthy approval process.
The approved layout includes six spacious apartments consisting of four 3-bedroom, 1-bath units and two 2-bedroom, 1-bath units, creating an attractive mix designed to appeal to today's rental market. Whether your strategy is long-term cash flow, portfolio expansion, or repositioning a historic asset, the groundwork has already been laid.
One of the largest capital expenses has already been taken care of with a brand-new roof, providing immediate value and reducing future costs. Inside, portions of the new framing have already begun, offering a clear roadmap toward the finished product while preserving the character and craftsmanship that make classic brick buildings so desirable.
The property's striking architecture immediately stands out with its rich brick exterior, oversized windows, decorative masonry details, and commanding presence on the corner. Once restored, it has the potential to become one of the area's showcase multifamily properties.
For experienced investors, developers, or contractors, this is the chance to bypass the uncertainty of an untouched redevelopment project. The heavy lifting has already been done. The approvals are in place. The roof is new. The vision has been established. What's left is executing the finish and unlocking the property's full income-producing potential.
If you're looking for your next value-add investment with significant upside, this is the kind of project that can separate itself from everything else on the market. Bring your contractor, your financing, and your vision. The foundation for success is already here.