This fully renovated quadruplex is a prime investment opportunity, offering strong cash flow and professional management for a seamless ownership experience. Appraised at $830,000 in November 2024 following $120,000 in recent upgrades, this 4,520 sqft property features four spacious townhome-style units, each with 2 bedrooms and 2 baths.
All units are leased, generating a projected annual gross income of $69,840 at full occupancy. With estimated expenses at 16% of gross income ($11,174.40), the property delivers a Net Operating Income (NOI) of $58,665.60 and an actual CAP rate of 7.52%, with a projected increase to 8%. Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52, resulting in a projected annual cash flow of $15,241.08.
CURRENT RENT ROLL:
• Unit A: $1394/month (lease until 4/30/26)
• Unit B: $1,495/month (lease until 4/30/26)
• Unit C: $1435/month (lease until 1/31/26)
• Unit D: $1195/monrh (lease until 1/31/2026)