Four units operating as 12 units. Ideal for developer or investor. This property is legally as per property appraisal office a 4 plex, however the owners have a total of 12 paying tenants. The front building has 10 tenants/units, some units are subdivide which practice co-living a modern form of communal living in which residents get a private bedroom in home with shared common areas. Co-living is popular in major cities as a means of affordable living for students, workers, digital nomads, or individuals relocating. The back building has two private 1/1 one upstairs and one downstairs. The property is 3,164 Sq. Ft. on 5,000 Sq. Ft. corner lot. Investment is composed of 2 buildings. Building 1 was built in 1925 with 2,432 Sq. Ft. and building 2 was built in 1950 with 732 Sq. Ft. There are 4 electric meters and 1 water meter. Property is 100% occupied. This area is very walkable — most errands can be accomplished on foot. Transit is excellent and convenient for most trips. There is some amount of infrastructure for biking.

The investment/property has some minor open code violations as per owner. Owners are willing & able to work with the new investor and pay monies owed for violations until the day of closing, enabling the new investor to cure violations post-closing.

For additional information contact Alex Lizama at 305-409-3045.

Gross Income: $90,120

Expenses: $15,587

NOI:$74,533

7.85% Cap Rate