662 Main Street
Property Description
Turnkey 4-unit investment opportunity generating strong cash flow in a prime downtown location. This well-maintained property produces $78,600 in gross annual income with an impressive net income of $63,542, delivering a 9.77% cap rate. The building has been extensively updated, featuring a newer roof, modernized kitchens and bathrooms, and durable LVP flooring throughout most of the building. Over $70,000 in improvements have been invested into the thriving daycare tenant occupying the first floor, adding long-term stability to the income stream. Additional highlights include off-street parking, with ample free public parking nearby for tenants and visitors. Ideally situated within walking distance to restaurants, shops, and everyday conveniences, this property benefits from strong rental demand. Value-add potential remains with opportunities to introduce on-site laundry, create additional storage income, and possibly expand existing units to further increase returns. A solid, income-producing asset ready to enhance any investment portfolio.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $619,900 |
| No. of Units: | 4 |
| Year Built: | 1900 |
| Lot Size: | 5,614.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $154,975 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 4 |
ID: 3yd-LVARPA-781710
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