5121 Thompson Avenue
Property Description
An exceptional opportunity awaits the discerning investor looking to secure a high-performing asset that meets the highly coveted 1% rule. Situated in a prime downtown location, this 8-unit multifamily complex offers an immediate revenue stream alongside substantial value-add potential. The property comprises six 1 bed, 1 bath units, and two 2 bed, 1 bath units currently yielding $5,548 per month in rental income with a 7/8 occupancy rate. Significant capital expenditures have already been completed, including a foundation repair, comprehensive termite treatment, new windows, updated flooring, and a newly poured concrete patio. Additionally, the majority of the units feature recently replaced appliances and PTAC climate control systems. A detailed spreadsheet is provided for all maintenance and upgrades on each unit. Additionally, an inspection report is available from the last year. Backed by a recent $600,000 appraisal, this turnkey asset is primed for immediate acquisition.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $465,000 |
| No. of Units: | 8 |
| Year Built: | 1923 |
| Opportunity Zone: | No |
| Price per unit: | $58,125 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 1 |
ID: 3yd-HMLSKS-2645865
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