2 E MCPHERSON Street
Property Description
This well-maintained and fully occupied approved three-unit multifamily property offers immediate in-place income and an attractive opportunity for investors. The property features a desirable unit mix consisting of one 1-bedroom/1-bath apartment and two 2-bedroom/1-bath apartments. Current rents are $1,325 per month for the 1-bedroom unit and $1,575 and $1,750 per month for the two 2-bedroom units, generating $4,650 in monthly rental income and $55,800 in annual gross income. See available income and expenses in documents. The property has been well maintained, with recent kitchen and bathroom upgrades providing modern finishes while retaining the character of the building. Units offer bright living spaces, hardwood flooring and updated kitchens and baths. The attractive stone and brick exterior further distinguishes the property. Utilities are separately metered and paid by the tenants, with the landlord responsible for water, helping to keep owner operating expenses low. Offered at $600,000, the property generates approximately $41,670 in NOI, representing a 6.95% capitalization rate based upon current operations. With established tenancy, recent interior improvements and approximately a 7% in-place cap rate, 2 E McPherson Street presents an attractive opportunity to acquire a stabilized, income-producing multifamily property with immediate cash flow.
Broker Details
eXp Realty (888) 397-7352
MLS ID: 3132287 State License Number: RS307602
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $600,000 |
| No. of Units: | 3 |
| Year Built: | 1952 |
| Lot Size: | 2,000.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $200,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-TRENDPA-PAPH2661604
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