Property Description

Excellent opportunity to own a fully leased quadplex with strong in-place income and additional upside potential. This all-brick property offers durability, consistent returns, and rental growth opportunity. Each of the four units features 2 bedrooms and 1 full bathroom with functional layouts. The property is currently generating $5,390 per month ($64,680 annually) with rents of $1,200, $1,400, $1,440, and $1,350. Recent improvements include a new water heater (12/2024) and new 2-ton HVAC unit (1/2024) in Unit 1; a new electric stove (4/2023) in Unit 2; a new water heater (12/2019) and new dishwasher (8/2020) in Unit 3; and a new water heater (6/2025), new 2-ton HVAC unit (2/2024), new refrigerator (3/2024), and new stove (2/2026) in Unit 4. At a purchase price of $625,000 with 6% operating expenses ($3,881 annually), the property produces a Net Operating Income (NOI) of $60,799, reflecting a 9.73% cap rate. With 20% down ($125,000) and a $500,000 loan at 6% interest on a 30-year amortization, estimated debt service is approximately $2,998 per month ($35,976 annually), resulting in projected pre-tax cash flow of $24,823 annually, or approximately $2,068 per month. Pro-forma opportunity: If all four units were leased at $1,440 per month, total gross income would increase to $69,120 annually. With 6% operating expenses ($4,147), projected NOI improves to approximately $64,973, increasing the cap rate to 10.40%. Under the same financing terms, projected annual pre-tax cash flow increases to approximately $28,997, or $2,416 per month. **No showings until the due diligence period. All units are occupied-please do not disturb tenants.**

Property Features

Local Schools