Property Description:
This well-maintained property features a classic two-story duplex (1,769 sq ft) plus a detached Mother-in-Law suite (576 sq ft), offering three separate income-producing units. The lower duplex unit is currently vacant and showcases newly refinished hardwood floors and recently replaced windows. The upper duplex unit and back unit are currently tenant-occupied, with the rear unit tenant potentially relocating in the future. Each unit has its own designated power meter for efficient utility management.
The rear unit is a 1/1 and paying $575/mo. That’s significantly under market, but they have been there a long time, so the owner is partial to them. They are on a month to month lease, and talking about moving, so that could time out perfectly. In the main property, the upstairs unit is a 2/1, and currently rented for $700/mo. They have between 3 and 4 months left on their lease still. Also underpaying what market is. The downstairs is a 1/1, and currently vacant. The 1/1 units should rent for between $950/mo to $1,250 a mo. You have multiple comps. The 2/1 should rent for, between $1,200 & $1,500 per month. So your total rental range will sit between $3,100 on the low end, and $4,000 on the high end.
The property demonstrates excellent maintenance with a durable metal roof installed 5 years ago and a newly replaced flat roof section completed last year. Recent improvements include an upgraded kitchen, well-maintained electrical and plumbing systems, and updated bathrooms. The lower unit features a non-functional fireplace that could be restored or repurposed. The property represents an ideal opportunity for investors, with a proven 18-year rental history. While the duplex benefits from a modern HVAC system in excellent condition (6-7 years old), please note the MIL suite does not have central HVAC.
Location details and pricing available upon request. Contact us to schedule a viewing of this promising investment property.