About 1860 State Street
Don't miss this exceptional investment opportunity! This rock-solid, meticulously maintained four-unit building is the perfect addition to your portfolio, offering strong cash flow, quality long-term tenants, and major capital improvements already completed. Producing approximately $46,000 in annual net income after expenses, this turnkey property delivers immediate income with excellent long-term value. The building features 8 bedrooms and 5 bathrooms across four well-maintained units, all showcasing beautiful hardwood floors. The ground-level unit offers 3 bedrooms and 1 fully remodeled bathroom, along with a new kitchen countertop and new stove. The first-floor unit features 3 bedrooms and 2 bathrooms, hardwood floors throughout, great finishes, and an expansive layout that tenants love. The second floor includes two updated 1-bedroom, 1-bath units. Unit 2W features a remodeled bathroom, new refrigerator, and new window air conditioning unit. Unit 2E has also been remodeled and includes an updated bathroom, new refrigerator, new stove, and new window air conditioning unit. The common laundry area includes a new dryer, and the coin-operated laundry generates approximately $600 annually in additional income. Each unit also includes its own private storage area. Three of the four units are currently occupied by CHA tenants, providing a stable and consistent rental income stream. 1 unit is being kept open for a owner occupant if desired. Income and expense statements are available upon request. This property has been exceptionally maintained with significant capital improvements, including a 3-year-old roof, updated electrical, updated windows on the front and rear elevations, with some side windows also replaced, and a boiler that was professionally rebuilt approximately one year ago with multiple new components and is in excellent operating condition. Tenants pay their own electric utilities, helping keep operating expenses low. Outside, you'll appreciate the fully fenced yard, a gated side driveway with parking for up to 12 vehicles, and a 2.5-car garage, amenities rarely found in multifamily properties that add tremendous value for both owners and tenants. This is a rare opportunity to own a well-maintained, income-producing property with updated units, stable tenants, excellent cash flow, and long-term investment potential. Schedule your private showing today while its still here and see everything this outstanding property has to offer.
