MLS Number 4976648
- Units 10
- Acreage 0.5
- Square Feet 10,852
- PricePerSqFt 303.63
An Exceptional Investment Opportunity! This property consists of ten total units, eight 3-bedroom, 1.5-bath condos built in 1985 and a two-story attached duplex constructed in 1930, all within the Opportunity Zone. The interiors of all units have recently received fresh paint, and many boast upgraded flooring. Exterior enhancements include compliance with zoning regulations, such as new sidewalks and curbing, illuminated by energy-efficient LED lighting. The driveway has been leveled for added convenience, and a protective fence now shields the previous surface while enhancing curb appeal. This investment is already above a 7% cap rate, with substantial net operating income (NOI) and 100% occupancy over many years. With minimal investment and strategic rental turnover, there's significant potential to increase the NOI. This can substantially elevate the property's overall valuation. Moreover, an exceptional management company is in place to expertly navigate the property's operations, drive revenue, and ensure a hassle-free investment experience. Take advantage of this outstanding opportunity for a high-yield, value-increasing investment.
Listed by Smith Macdonald Group of Coldwell Banker Carlson Real Estate
Est. Mortgage: $/month
Federal 30-year interest rate: 6.9% last updated on 2024-02-22
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.