Excellent buy-and-hold opportunity for an investor looking for a fully renovated / updated rent-ready triplex multifamily property with existing income and strong upside. 2 of the 3 units come FULLY FURNISHED!
One unit is currently occupied by a month-to-month tenant paying a below-market rent of $650/month, while the other two units are vacant and ready for immediate tenant placement.
Rental Breakdown
3 total units
1 occupied: $650/month — month-to-month
2 vacant: Turnkey and ready to lease
Market rent: Approx. $700/unit
Section 8 potential: Approx. $850/unit
Income Potential
Market Rents:$2,100/month | $25,200/year
Section 8 Potential:$2,550/month | $30,600/year
With two vacant units ready for lease-up, the next owner has the opportunity to quickly stabilize the property and increase gross rental income. At projected Section 8 rents, the property could generate approximately $30,600 annually in gross rent.
Ideal for a cash-flow investor, BRRRR investor, or landlord looking to add a turnkey multifamily asset to their portfolio without taking on a major renovation while also securing another cashflowing asset with a 1031 or those needing to offset taxes
Property sold as-is. Buyer to perform all due diligence and independently verify rents, Section 8 payment standards, property condition, expenses, and financial information.
More About This Property
Nearby Deals
Nearby Markets12 cities · 8 counties · 12 ZIP codes
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ARV $210,000
From the listing
The seller picked no comps. Investimate’s own value for this home is $67,000.
