Property Detail

Description

Newly updated Triplex that is perfect for multi family living or an investor. Property has good bones, a great unit mix and units are move-in ready. These well-sized units & practical layouts offer consistent rental income potential of up to $118k annually. Two units are 3 bds/2 baths & move in ready. Units feature updates throughout, cute galley kitchens with tile backsplashes, stainless steel gas range & refrigerators, garbage disposals, in-kitchen dining areas along with laundry areas for side-by-side washers and gas dryers. The third unit (not photographed) is 4 bedroom, 2.5 bath townhome style unit. This townhome style unit features open living & dining area, tucked away galley kitchen, stackable laundry closet, a bedroom and 1/2 bathroom on the 1st floor. Upstairs the other 3 bedrooms (including the primary) and 2 baths are featured (1 ensuite). The property is well maintained and very little deferred maintenance. All units are individually metered for gas, electric, water and trash. Recent updates include double pane vinyl windows, automatic gates for secured access in the front and back, updated bathrooms, updated lighting & electrical, new flooring, new interior & exterior paint, newer gas water heaters, recent termite repair and clearance, & easy to maintain landscaped yard. This is such a great property for multiple families to reside. It beats the cost of owning a condo or home featuring 3 to 4 bedrooms, 2 baths and between 1000-1250+sq ft of living space per unit. For any investor to secure market rents is a win. The units are practical and well sized thereby decreasing tenant turnover. Adjacent properties to the South were recently updated & the other cleared for development. Property is ~ 5 min drive to 110 highway, 8 min drive to 105 highway providing easily accessible transportation corridors. Lastly, this property can provide a positive cash flow with minimal down payment or solid cash flow, operating at a 7.7% cap rate with 20% down payment & DSCR 1.37 . This should make financing or an all cash purchase very attractive.