Unit Mix: Loft, 2 1 Bedrooms, 2 2 Bedrooms
Current NOI: $49,872
Current Cap Rate: 4.77%
ProForma NOI: $107,872
Proforma Cap Rate: 5.740%
This turn-key and turn-of-the-century multi-family home in the City Park neighborhood has been converted and remodeled top to bottom to include a mix of 5 fully leased units. The neighborhood, with quick access to City Park, continues to attract tenants. A newly constructed top floor unit offers a large open space style with all the upgrades, including new high-end appliances, including a private washer and dryer, and a beautiful large bathroom. The basement offers a full-size washer and dryer plus additional storage for each unit. There is parking for each unit. Original wood in the foyer and staircase maintains the charm of the era. Additionally, a xeriscaped backyard area with a patio and a dog run are a fantastic low-maintenance option for multifamily. Lots of charm remains in this lovely remodel. You can feel the pride the sellers have invested into this home making it immediately ready for its new owner. Location! Location! Location! Walking distance to City Park, bars, restaurants, East High School, and easy access to all the amenities the city offers.