480 NE 18TH St
Property Description
Investors, take notice! This spacious duplex offers strong rental appeal, substantial recent improvements and opportunity for future income growth with two well-sized 3-bedroom units. Both units are currently rented below their potential, creating an opportunity to increase rents and improve future cash flow. Each unit offers 3 bedrooms, 1.5 baths and 1,305 sq ft, along with a one-car garage, large fenced backyard and driveway parking for two vehicles. There is also additional space suitable for RV parking-an attractive tenant amenity. Significant capital improvements are already in place, including new high-efficiency electric furnaces, new HardiePlank siding, new windows and a new roof. One unit features new LVP flooring, while the other has new engineered hardwood flooring, reducing near-term capital improvement needs. Both units are occupied by month-to-month tenants who would like to stay, providing immediate rental income with potential to minimize turnover and leasing costs. Current rents offer room for future increases. Conveniently located near shopping, bus lines and schools, this property offers investors a compelling combination of existing income, rent-growth potential, quality improvements and long-term value-add opportunity. Whether you're looking for an investment with rent upside, or an owner-occupied opportunity with durable improvements and future value-add potential, this duplex deserves a closer look!
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $619,000 |
| No. of Units: | 2 |
| Year Built: | 1978 |
| Lot Size: | 2,610.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $309,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 4 |
ID: 3yd-RMLSOR-433997688
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