241 Covert Street
Property Description
Rare Investment Opportunity: Multi-Family This isn't just another listing; it's a once-in-a-lifetime opportunity to secure a high-performing asset with built-in growth potential. Whether you are looking for a turnkey rental machine or a project with a massive upside, this property delivers on every front. Property Highlights Current Configuration: Legal two-family residence. Major Renovations (2010): Peace of mind comes standard. The property underwent a comprehensive overhaul in 2010, including: Updated Plumbing: Modernized throughout. Upgraded Electric: Total system overhaul. New Sheetrock: Clean, modern finishes in both units. Mechanicals: Equipped with high-efficiency Separate boilers in both units. Utilities: Separate electric meters for each unit, keeping overhead low and management simple. Financials & Value Add Current Rent Roll: Generating a robust $6,700 per month. Why This Property? The heavy lifting has already been done. With the major systems updated and a strong existing rent roll, you can collect a premium income from day one while pursuing the third-unit conversion. Multi-family properties with this level of upkeep. Investor Note: High demand and a proven income stream make this an ideal candidate for 1031 exchanges or a cornerstone for any real estate portfolio. Don't wait-opportunities with this much "meat on the bone" disappear fast.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $879,999 |
| No. of Units: | 2 |
| Year Built: | 1908 |
| Opportunity Zone: | No |
| Price per unit: | $440,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 2 |
ID: 3yd-MLSLINY-991058
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