Introducing a rare investment gem—an established income-generating multifamily property that checks all the boxes. This distinctive asset comprises two buildings: one meticulously remodeled into three distinct units, and another newly constructed with four sleek, modern units. FF&E to convey with the sale of the property.
2023 Financial Overview:
This property generated $214,133 in Airbnb income. With operating expenses at only 36.60% of the revenue, the NOI of 2023 stands at $133,810 annually.
2024 Financial Overview:
From January to June 30th, this property generated $119,856.72 in Airbnb income. With operating expenses at only 29.60% of the revenue, the NOI stands at $84,320.70.
Value Add Opportunity:
There is an opportunity to add two additional units, which could further increase the annual revenue by $61,000 for a total of $275,000, with a projected NOI of $173,000.