Turnkey 6-unit multifamily opportunity on Washington Street offered at $310,000. This well-maintained property features six studio-style units with strong in-place rents and solid tenants. Current monthly gross rent totals $4,207, broken down as follows: three units at $680/month, one at $340 biweekly ($737/month), one at $300 biweekly ($650/month), and… Read More one at $180/week (~$780/month). Annual gross income totals $50,484. The owner currently pays all utilities - gas, electric, water, sewer, and trash. Average monthly expenses are approximately $588, with annual expenses estimated at $7,056. Financials reflect a projected NOI of $43,428, delivering a strong 14.01% cap rate at the $310,000 price point. With 20% down, investors can anticipate an estimated cash-on-cash return of approximately 36%, based on projected annual cash flow of roughly $22,000+ after debt service (subject to lender terms). The property offers excellent off-street parking and sits in a prime growth corridor, walkable to shopping and public transportation. A strong, stabilized, cash-flowing asset with minimal overhead and impressive upside potential. No showings without an accepted offer. Please do not disturb tenants. Read Less
Courtesy of Hanza Realty, LLC, 317-800-4438.
Listing Snapshot
Days Online
274
Last Updated
Property Type
Quadruplex
Lot Size
0.28 Acres
Year Built
1925
MLS Number
22045368
Additional Details
Building
Levels: "Two", Year Built: 1925
Garage
Garage Spaces: 1
Lot
Acres: 0.28, MLS Acres: 1/4-1/2 Acre
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