Description

Incredible 5-unit multifamily opportunity in Parkview, a fast-growing area surrounded by new construction and investment activity. This studio-style property offers strong in-place cash flow with four units currently occupied-rented at $750/month, $340 every two weeks (~$737/month), $675/month, and $700/month-bringing in a total of $2,862/month or $34,344/year. One unit remains available and is currently being shown while undergoing light turn work. Fully stabilized, the projected gross income is $3,750/month or $45,000/year. Owner pays all utilities-gas, electric, water, sewer, and trash-with average monthly expenses of just $588 and estimated annual expenses of $7,056. At the updated price of $305,000, projected net operating income (NOI) is $37,944, resulting in a 12.44% cap rate. With 20% down, investors can expect an estimated 28.14% cash-on-cash return, based on $17,153 in annual cash flow after debt service. The property features off-street parking and is located in a high-demand area with strong tenant interest and ongoing revitalization. With minimal overhead and clear upside for increased income, this is a turnkey opportunity with immediate returns and long-term value. No showings without an accepted offer. Please do not disturb tenants.