Realize the full potential of this rent producing two family property in the fast developing Fox Park Neighborhood. With two reliable long term tenants, you will have predictable rental revenue until at least June '26. Beyond the lease terms, you will have the opportunity to unlock even more revenue potential as other 3 bedroom apartments in the area are well above the current rents. Seller is willing to negotiate a closing credit for buyer to pay down their interest rate.
The property has been well maintained with professional management since '17. During this time, there has been routine & preventive maintenance along with many updates. The unit renovations are less than 10 years old, and include new bathrooms, substantial kitchen work, flooring refinish & install. Each unit has since been refreshed & maintained during turnovers & occupancy. Look forward to lower expenses & strong building performance thanks to the updated & well maintained systems: Newer HVAC with a new system for the 2nd floor in '19/20; New TPO roof in '24; New water service line in '25; Modern electrical service; Substantial spot tuckpointing in '18 and '23.
Each unit has 3 bedrooms, an updated bathroom, a spacious kitchen, & a large living room. The upstairs unit has a small bonus room above the front stairs that tenants value to use as a large closet, home office, kids play room, etc. The units have retained most of the historic millwork, floors, and even a unique, original basement access for the second floor tenants. The basement has laundry hookups for each tenant. The backyard features a covered deck for each tenant, a fenced in backyard, & a 2 car parking pad.
