Off Market 8 Plex! Asking 675K, 8.76%Cap, 9.89% CoC. DSCR 1.39
A prime investment opportunity presents itself with this 8plex, ideally located adjacent to downtown, offering unparalleled convenience. Each unit boasts spaciousness, with the top ones spanning 1205 square feet, comprising 2 bedrooms, 1 bath, and two additional versatile rooms suitable for storage or office space. Currently, the rents stand slightly below market rates, with a marginal difference of approximately $100 per unit. The property's potential is evident as two units remain vacant, while five are on a month-to-month basis, facilitating a smooth transition to market rates. Furthermore, with one lease set to expire at the end of April, adjustments to rental pricing become seamless. Moreover, the property's upkeep is impeccable, with renovations occurring as rents roll over, complemented by the convenience of coin-operated laundry facilities located in the basement.
Joshua Kirby (Investment Sales Specialist)
RE/MAX Precision
(515)402-7941