$1,025,000

About This Property

Location, location, location! This fully leased multifamily Hyde Park income-producing property is waiting for new owners! This property is steps away from all that Howard avenue and Hyde Park Village has to offer. The main house is a 3 bedroom / 1 bathroom 1,451 sq ft classic bungalow that has been fully restored over the years to keep to its historic charm and adding modern finishes. The prior updates and improvements include a large remodel in 2020 with new luxury vinyl flooring, full bathroom remodel, interior paint, hot water heater, HVAC (2019), and 30 year shingle roof (2011). The family room, dining room, and kitchen provide a large open floorplan. Current lease is MTM and rent is $2,750. Attainable rent is $4,500 / month. Built in 2017, behind the main house is a 2 story rental with two 1 bedroom / 1 bathroom apartments that are separately metered for electric and have independent laundry. These apartments are beautiful and have separate entrance from main house. These units currently rent for $1,400 and $1,500 per month. Attainable rents in the area are $1,650 / month. Total current rent roll offers gross income of $67,800 with attainable rents of $98,400. Ideal value-add opportunity for new owner by increasing rental rate with not much upfront money. Top-rated schools.

infoProperty Details

Property Type

Duplex

Year Built

1924

Living Area

2,891 sqft

Lot Size

0.15 acres

Bathrooms

0

Ownership

Fee Simple

Days on Market

43

List Date

Sep 9, 2021

Sold Date

chairInterior Features

yardExterior & Lot

Listed By

HIGHMARK REAL ESTATE

239-560-4235