Attention investors! Outstanding value-add opportunity with affordable 7-unit brick apartment building being offered at a price designed for a quick sale. Foreclosure property is being sold strictly "as-is" (limited information available), making it an ideal project for experienced investors looking to build equity and maximize returns.
Building appears to consist of seven spacious 1-bedroom units and has benefited from some updates over the years, including vinyl replacement windows, but additional repairs and improvements are needed. Three long-term occupants currently reside in the building.
No leases are available, and it will be the responsibility of the new owner to establish lease agreements if desired. Current occupants have helped maintain & secure the property during the transition period. Separate gas & electric meters are in place for each unit, one water meter serving the building.
Electric heat appears to be installed in the individual units, while ranges & water heaters appear to be gas. Water service is currently active; however, no other utilities are on accept water. Water heaters require replacement. Ample parking, a quiet setting & strong rental demand add to the appeal.
Similar spacious 1-bedroom units in the area can command approximately $700 per month, with tenants typically responsible for gas and electric expenses. Investors willing to complete the needed improvements will significant upside potential and attractive future cash flow.
Property is being conveyed free & clear of liens. Showing opportunities are limited but can be accommodated. Seller has limited knowledge of the property's condition, & buyers should perform their own due diligence. Excellent opportunity to acquire a brick multifamily asset with substantial upside potential at a below-market price. Don't miss this chance to add a value-add apartment building to your portfolio. Qualified buyers only please, no owner financing available.
