Looking for a great multi family unit investment? Not many out there, but, this one is on the market. 11 Unit Apartment complex. All 1 bedroom, 1 Bath, living room, kitchen, walk in closet. Approx 456 sqft per unit, all individually metered for gas and electric. All Electric meters and breaker boxes in process of being upgraded. Owner pays water, trash. current rents bringing in a 5.7 cap rate (below market rents). Great investment. Unit 3 is rented at $575 thru Sec 8, so it clears a path to potentially renting all units at $575 as they are all the same sized units. Great future cash flow! Laundry room not being utilized. Potential income here as well. Cap rate at $575 per unit is 7.7
Listing courtesy of Summus Realty.