Have you been looking for a cash cow property to add to the portfolio, look no further.
Presenting this 5 unit value add opportunity in Lincoln Heights!
4 units already rented below market rate.
4-1/1 units
1 large studio unit
One unit is vacant and in need of cosmetic rehab, opportunity to add another studio unit or in-building laundry in order to further increase profits!
Market Rent: 1 Bedroom market rent, $825
Current Rent:
3/4- 1/1 units currently rented @ $600 mtm
Studio- rented mtm $600
Property Conditions:
Roof – Type – Dimensional Shingle roof, appears newer in good condition
Brick Construction
Windows – Vinyl windows in good condition
HVAC – The owner pays heat. tenants responsible for A/C
Newer Carrier high-efficiency furnace
Hot water Heater – each unit has its own HWH
Electric – Modern electrical, each unit has its own meter
The exterior has been well maintained but could benefit from a bit of cleanup and landscaping
Interior units- 4/5 units currently rented and in solid condition yet a bit dated, the vacant unit has been gutted and awaiting cosmetic overhaul before rerenting at market rate!
ability to create 6th unit or income-producing laundry
Easy to have access!
Call or Text (513-951-3764)
Matthew@summitbuys.com