What a great investment opportunity at $165,000 per door! You can own 24 out of 72 units in a townhome complex, each individually titled. There's a mixture of 17 two-story 1044 sq.ft units, and seven 1033 sq.ft bungalow townhomes in this portfolio... all of which are 3 bedrooms! Rents are currently an average of $1,100 and being increased as leases are up for renewal, but you can easily increase to $1,300 on average to reflect market rents (this is shown in the stabilized proforma figures). The current cap rate is 3.46% and again can easily be increased to 5.41% by just going to market rents. The exterior has been completely updated. Also great as a BRRR because the photos reflect the average unit which could use renovations if you want to renovate and refinance, or rent as is. Move in ready and currently professionally managed. Low condo fees, close to schools, parks, transit, and amenities makes us a solid investment for any portfolio. No VTBs or creative financing please. (id:47421)
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Detailed Information
Listing Contract Date
2024-08-22
Municipal ID
4034153
# of Parking Spaces
24
Property Type
Multi-family
Transaction Type
For sale
Building
Constructed Date
1977
Land
Total Size
49223 square feet
Acreage
Yes
Size of Irregular Land
49223
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