432 4th Avenue
Property Description
Outstanding Investment Opportunity - 12-Unit Multifamily Key Highlights: - 100% occupancy - all units leased at $1,150/month, with increases to $1,250/month in late 2025. - NOI: $128,000 - Cap Rate: 7% - Management Fee: 5% - Fully renovated in 2024 - new roof,HVAC, interiors, and exterior improvements. - Lot size: 0.9 acres - room for laundry facility or self-storage units. - Tenants pay electricity and gas; owner pays water (~$500/month). - All units have washer/dryer hookups and individual metering. Financial Summary: Scenario Current Gross Income $165,600 Pro Forma -$180,000 NOI $155,000 Value @ 7% Cap-$2.214,286 - Immediate strong cash flow with current NOI of $128K. - Built-in appreciation of ~$385K from scheduled rent increases. - Low maintenance risk due to complete recent renovation. - Additional income potential from lot development.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,725,000 |
| No. of Units: | 1 |
| Year Built: | 1999 |
| Opportunity Zone: | No |
| Price per unit: | $1,725,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-FMLSGA-7704189
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