Turn-key 6-unit apartment building offering a rare combination of dependable cash flow, low management intensity, and tenant stability. Fully leased (3-year lease) to a responsible tenant that pays utilities and manages common day-to-day maintenance items. Built-in renewal clause ensuring income growth of 5% after the initial term ending in 2028. Annual Gross Rental Income (years 1-3) $77,544; and $81,420 years 4+. The property has been fully renovated, and capital improvement investment details are available. Operating expenses are minimal, long-term viability, and strong market demand.
Courtesy of Terri D'Andrea and Coldwell Banker Heritage
Selling Office: Test Office.
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