Property Description

Don't miss out on the rare opportunity to invest in this 17 Unit Apartment Building with a present cap rate of 6.7%. Spacious 1844 Victorian Mansion divided into 11 unique apartments plus a 6 unit apartment addition built in the 1950's. The traditional Victorian architecture, complemented by durable brick and vinyl siding, enhances curb appeal while ensuring low maintenance. Inside, the property boasts a blend of classic and modern features, including built-ins, a stunning curved staircase, a mix of wood and lots of character. Exceptional turn-key investment opportunity located in the quiet neighborhood of Lenker Manor. Fully leased and in very good condition. The property backs to trees, ensuring privacy and a serene environment. Outdoor amenities include a wrap-around porch, deck and balcony. Parking is abundant with a paved lot accommodating up to 25 vehicles, enhancing tenant accessibility. The property is strategically located near essential services, making it attractive to potential renters. With a solid condition and a history of major renovations, this property is poised for strong rental returns. New architectural shingle main roof in 2011. New furnace in 2014. Some new siding, soffit and facia in 2016. Repaved parking lot in 2020. Newly sealed rubber roof in 2020. New hot water heater 2021.There are 4 two bedroom apartments, 8 one bedroom apartments and 5 studio apartments. Opportunity for a live in investor/caretaker. The residents pay for electric and cable. The Owners pay water, sewer, trash and gas heat. Present Cap rate of 6.7%. See agent remarks and associated documents for additional information! (Inside photos were taken over the years during tenant turnover)

Property Features

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