Description

Price Reduction! Rare opportunity to acquire a well-maintained and professionally operated 1984-built multifamily asset offering strong, stable cash flow from day one. The property has been extensively improved, featuring fully remodeled interiors across all units within the past 2–3 years, along with brand new exterior paint and decking, creating a turnkey investment with minimal deferred maintenance. Spanning approximately 6,871 square feet, the asset offers an excellent unit mix of two 3-bedroom/2-bath units and three 2-bedroom/1-bath units. Units are exceptionally large, (1505, 2101, 1093, 968, and 1196 square feet according to most recent appraisal). These spacious floor plans cater to family-oriented tenants and contribute to long-term occupancy and stable tenancy. The property is well parked and efficiently designed, with a total of 11 on-site parking spaces, including five single-car garages in the front and six gated tuck-under spaces accessed from the rear alley. This ample parking configuration enhances tenant satisfaction and supports strong retention. Operationally, the asset is highly efficient with separately metered gas and electricity, individual water heaters for each unit, and a history of well-vetted residents. The combination of strong in-place income, quality tenancy, and recent capital improvements positions this property as a low-maintenance, stabilized investment. In addition to its current performance, the property offers clear upside potential through continued organic rent growth, operational efficiencies, and possible ADU development utilizing existing garage space (buyer to verify). Also, a few garages could be rented out and laundry might be installed inside units or outside if allowed by city for more income. Ideal for investors seeking a well-located, income-producing asset with large unit sizes, solid fundamentals, and long-term growth potential.