For Sale
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RENT INCREASES JULY 1ST !!! ($4,440 annually) Well-maintained 6-unit multi-family in an excellent location near EastWorks and Downtown, offering strong upside potential. The property features a low-maintenance exterior and interior, is clean and well cared for, with a new roof membrane (Aug 2020) and a newly renovated back staircase/fire escape (Apr 2026).Long-term tenants with no leases provide flexibility for rent increases. Unit 3R, the 6th unit, is a 2-bedroom, 1-bath with kitchen and living room, gas heat, and a new refrigerator (Apr 2026), currently rented at $1,110/month. Tenants own washers/dryers; all other appliances are landlord-owned.Current cap rate is 5.9% (increased .4%), with rents below market ($1,600–$1,729). Pro forma cap rate reaches 8.5% at $1,600/month. Fire Department requires buyer to install a Fire Notification Panel. This is a solid investment opportunity with stable occupancy, minimal upkeep, and significant income growth potential in a highly desirable area.
Exclusions: Washers & Dryers Belong To Tenants
Disclosures: Seller's agent is part owner; Fire Dept requires buyer to install Fire Notification Panel; Dampness in basement; Possible knob & tube
Directions: Corner of Pleasant St & Fugere Ct. GPS friendly
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