Remarks

This Charming 12-Unit, 2 Bed- 1 Bath, Apartment Building Offers A Prime Investment Opportunity In The Heart Of A Close-Knit, Smaller Hometown. Impeccably Maintained, The Property Is Fully Occupied, Ensuring A Steady Stream Of Passive Income. Despite Below Market Rents, Current In-Place Cap Rate Is 6.8%. New Tenants (4 of 12 Units) Are Paying $650.00 A Month. This Equates To Almost $95,000 Of Potential Annual Gross Income, And A Proforma Cap Rate Of Over 8%. The Property Currently Has An On-Site Manager Who Is Willing To Stay On. Everything Is Direct Billed, With Tenants Paying Electric. Its Strategic Location In A Community With Strong Bonds And Potential For Growth Makes It An Appealing Asset For Investors Seeking Both Immediate Cash Flow And Future Appreciation. Proximity To Local Schools And Restaurants Adds To It's Family-Friendly Allure.

Details

MLS#: 24002339
Price: $900,000

Sq Ft: 8700.00
Year Built: 9999

County: Nicholas
Subdivision: Downtown