Turn-key investment opportunity! Excellent 5-unit multi-family property featuring five individual 1-bedroom apartments delivering a strong Net Operating Income (NOI) of $37,539 after expenses, representing a solid 10.15% cap rate. Total landlord utility expenses (electric, gas, water, and sewer) are $8,809/year. The property includes high-speed internet bundled into operations to power the remote-accessible security camera system, which transfers to the new owner upon sale. Additional revenue is generated by on-site coin-operated laundry facilities producing ~$2,000/year. The property also features a detached 2-car garage that remains locked exclusively for owner use/storage and is not rented to tenants. Well-maintained with a solid rental history, established annual rent schedules, cooperative tenants aware of the sale, and full compatibility with local housing assistance programs.
PORTFOLIO OPPORTUNITY: This property can be purchased individually or packaged together with 175 Chapin Street (an 8-unit property) to acquire a 13-unit portfolio generating $103,186 in combined net income at an overall 9.38% cap rate ($1,100,000 package price).
(Note: Proof of Funds or pre-approval is required prior to scheduling any private walkthroughs.)