Property Description

New Construction Five-Plex 90% Complete! INVESTOR OPPORTUNITY. We are the direct owners of this 5-unit multifamily property and have decided to sell. We are offering this opportunity to an investor who can take it across the finish line. Property Overview: One building on one lot, 5 total units, 5 electric meters, 1 water meter, 1 tax account, Approx. 1,500 sqft per unit. Unit Mix: 3 Interior Units each with 3 bed-2.5 bath, 2 End Units each with 4 bed-3 bath. We have a recent $1.6 million appraisal based on multifamily comps (pulled from a slightly wider radius due to classification). Full appraisal available to serious buyers. What’s Left to Finish: Interior (near completion): Flooring, Baseboards, Minor cosmetic touch-ups. Completed: Mechanical rough-ins, Water connected, Electricity connected, Electrical final passed. The only remaining HVAC item is installation of the exterior condenser units, and we already have those units and will include them in the sale. Exterior (main cost item): Concrete walkways leading to units need to be redone due to prior contractor error. Estimated remaining cost to complete: ~$80,000. The City is eager to see this project completed and has indicated they are willing to work with the new buyer. Because the original permit expired, the City is willing to waive new permit fees for the incoming owner. Transition Package Included, We have organized documentation and will provide a Dropbox folder including: Full appraisal, Photos & videos, Civil plans, Trade contacts (MEP, subs, etc.), Project documentation. This is not a blind project, the groundwork is done. Asking $1,050,000 or best offer. At this price, with an appraisal at $1.6M and an estimated ~$80K to complete, this is positioned for strong upside for the right operator. If you are a serious investor, please contact me and I will send you a Dropbox link with all property information. Let’s make a deal.

Property Features

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