This fully renovated 10-unit townhome-style building presents an incredible investment opportunity with a strong, stable income stream. Offering a total of 20 bedrooms and 20 bathrooms, each of the units is currently leased at $1,200 per month, generating a consistent $12,000 in monthly rental income. The property is fully occupied under a three-year master lease agreement, with an automatic renewal option for an additional three years at a 5% annual rent increase.
Boasting a 10.4% cap rate, this turnkey investment is ideal for an investor seeking immediate returns and long-term stability. Tenants are responsible for all utilities, including water and trash, while the owner covers property taxes and insurance. Additionally, on-site management is in place, and tenants are responsible for maintenance and repairs under $300 or if damage is caused by them.
This property is an excellent opportunity for a buyer looking to acquire a low-maintenance, high-yield investment with minimal risk. Units will be available for showings upon acceptance of an offer, making it easy for the new owner to take over and enjoy the benefits of this prime property for years to come. Pictures do not show appliances, but all units have stainless steel appliances microwave, range, dishwasher and fridge.