37 Parkview Avenue

Fantastic 5-unit multifamily opportunity in Parkview! This property features five studio-style units with strong cash flow potential. Two units are currently occupied - one rented at $750/mo and one at $340 every two weeks (~$737/mo). Three additional units are available: two are being marketed at $750/mo, and one is undergoing turn work with improvements in process during marketing. Stabilized gross rental income is projected at $3,750/mo or $45,000/yr. Owner pays all utilities including gas, electric, water, sewer, and trash. Average monthly expenses are $588, with annual expenses estimated at $7,056. Financials show a projected NOI of $37,944 and a cap rate of 12.24% at the $310,000 price point. For investors, this property offers an estimated 27.67% cash-on-cash return with 20% down, based on an estimated annual cash flow of $17,153 after debt service. The property includes off-street parking and is located in an area experiencing significant development and rapid growth, surrounded by new builds and investment activity. High-yield potential with minimal overhead and strong upside for rental increases or stabilization. No showings without an accepted offer. Do not disturb tenants.