This quadplex features four identical 2 bedroom, 1 bathroom units in a strong rental corridor just off Salem Ave. Three of the four units have been fully turned and are in solid condition. One unit became vacant just one week ago after a long term tenant of 11 years moved out and is the only unit that has not yet been rehabbed, presenting an immediate value add opportunity. Current rents are $600-$625 with market rents at $850-$900 Current rents are well below market, giving the next owner clear room to increase income and improve overall returns. Renovate the vacant unit and bring rents to market, or implement increases over time and improve cash flow strategically. Roof is 5 years old, HVAC age unknown. The property also includes a detached garage that can be leased separately for additional monthly income, creating another revenue stream beyond the residential units. Consistent two bedroom layouts make management simple and tenant demand steady. The location offers convenient access to major roads, shopping, and employment centers, supporting long term occupancy. One unit currently vacant. Three occupied units recently turned.
Courtesy of Angela R Flory and eXp Realty
Selling Office: REAFCO.
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