423 Mellon Street
Property Description
This 17-unit multifamily property offers an opportunity to acquire a recently renovated asset at a discount to its stabilized value while the property completes its lease-up phase. The units were extensively renovated in 2024/2025 and feature desirable two-bedroom, one-bath floor plans with approximately 700 square feet each. Current asking rents are $795 per month, with additional tenant reimbursements for water and trash providing supplemental income. The property offers investors the potential for increased cash flow and value as occupancy approaches stabilized levels.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $975,000 |
| No. of Units: | 17 |
| Year Built: | 1963 |
| Lot Size: | 11,900.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $57,353 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-CBORGA-234567
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