1049 Gorman Avenue
Property Description
Fantastic owner-occupant or investment opportunity! This 6-bedroom, 3-bath triplex offers three separate living spaces with excellent income potential. Turnkey 6-bedroom, 3-bath triplex with strong income potential in West St. Paul. Three separate living spaces include a 1BR/1BA lower unit, 2BR/1BA main-level unit with two living areas and private laundry, and spacious 3BR/1BA upper unit. Rental-grade renovations have already been completed, making this an excellent opportunity for an investor or owner-occupant. Pro-forma rents of approximately $5,050/month ($60,600 annually), plus potential garage income. At the $449,900 asking price, this represents an approximately 8.1% pro-forma cap rate using a 40% operating-expense assumption. Property features a 2+ car detached garage, corner lot and location directly across from a park. Excellent opportunity to acquire a renovated three-unit property with multiple income streams and strong rental potential. The spacious main-level unit features 2 bedrooms, a dining room, private laundry and central air-perfect for an owner-occupant. Live comfortably on the main level while generating rental income from the other two units. The upper-level unit features 3 bedrooms, plus additional attic space for storage. The lower-level unit offers 1 bedroom, kitchen, bathroom, dining room and living room, providing another source of rental income. Laundry shared for Upper and Lower unit. The exterior features low-maintenance vinyl siding and a 2-car garage. A great opportunity to live in one unit while the other units help offset your housing costs-or add a solid multi-unit property to your investment portfolio.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $449,900 |
| Year Built: | 1941 |
| Lot Size: | 2,846.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 3 |
ID: 3yd-RMLSMN-7156355
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