Description

Well-maintained three-unit investment property featuring all three-bedroom apartments. Locally owned and personally managed, with extensive renovations in recent years. Improvements include updated kitchens and bathrooms, plumbing and electrical upgrades, flooring, lighting, paint and appliances. In unit laundry in all apartments. Common areas were refreshed in 2026 with waterproof vinyl flooring and paint throughout. Recent exterior work includes entrance improvements, a new roof over the front-door overhang, rear flashing and concrete step restoration. Current rental income is $4,055/month, apt 1 -$1575.00, apt 2 - $1450.00, apt 3 $1030 ($48,660/year), annual expenses of $16,052 and approximately $32,608 in annual net operating income. Strong 8.2% cap rate. Tenants pay their own heat, hot water and electricity. Note - Apt 3 has reduced rent under a handyman arrangement, so there is opportunity to improve this rent. (id:66360)

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