1298 Colfax Avenue
Property Description
Exceptional investment opportunity with multiple income streams and significant upside potential! This unique property features two separate rental buildings on one parcel. The front building includes two 2-BR, 1-bath apts, with the upper unit currently leased at $900/mo and the lower unit vacant, offering the flexibility to generate additional rental income immediately or occupy the unit yourself. The rear building features multiple bedrooms, 1.5 baths, kitchen & laundry, creating additional income possibilities. Numerous capital improvements have already been completed, including exterior updates & partial roof replacement on the front building, a brand-new roof and updated electrical, furnace, and exterior repairs to the rear building, new sewer line to the street, updated kitchen and bathroom in the upper apartment. Whether you're looking to expand your investment portfolio or capitalize on a property with strong cash-flow potential, this is an opportunity you don't want to miss!
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $249,900 |
| No. of Units: | 5 |
| Year Built: | 1887 |
| Opportunity Zone: | No |
| Price per unit: | $49,980 |
| Property Website | Click Here |
| Number of Bedrooms: | 7 |
| Number of Bathrooms: | 2 |
ID: 3yd-GRARMI-26041256
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