503 Leonard Street, Unit 1
Property Description
Excellent investment opportunity featuring four well-maintained 1-bedroom, 1-bath units, each approximately 500+/- SF. All units are in good condition and fully occupied, providing immediate rental income. Current gross monthly rents total $2,075, with all leases on a month-to-month basis, offering the opportunity to increase rents to current market rates. The property has been exceptionally maintained, including a new architectural roof and complete exterior repaint, both completed last year. Tenants pay their own electric, while the owner covers water/sewer (averaging approximately $60 per month), lawn care, and city-provided trash service. Each unit features in-wall A/C, baseboard heat, and an individual water heater. Two units also include washer hookups. This is a low-maintenance, value-add investment with strong upside potential.Broker Details
ARBELLA PROPERTIES, INC. 423-782-2090
MLS ID: 34030 State License Number: 370561
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $285,000 |
| No. of Units: | 4 |
| Year Built: | 1980 |
| Lot Size: | 2,016.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $71,250 |
| Property Website | Click Here |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 4 |
ID: 3yd-TVARMLS-9999174
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