8-unit multifamily investment delivering strong in-place income and substantial value-add potential. Currently operating at a 10.6% cap rate, the property includes 2 vacant units, offering immediate opportunity to renovate and lease at market rents with a projected 16%+ stabilized cap.
8-unit multifamily investment delivering strong in-place income and substantial value-add potential. Currently operating at a 10.6% cap rate, the property includes 2 vacant units, offering immediate opportunity to renovate and lease at market rents with a projected 16%+ stabilized cap. The asset features a versatile unit mix of (1) 4-bedroom, (3) 3-bedroom, and (4) 1-bedroom units, appealing to a broad tenant base. Separate electric and a solid structure support efficient operations and long-term durability. Several long-term tenants provide consistent cash flow while improvements are executed. Well located just minutes from downtown and major employers, this is a compelling high-yield opportunity with clear upside through unit upgrades and rent optimization.