Description

1927 Character 6-Unit Asset | Proven High Rents | Engineered Value-Add | Separate MetersThis is not a 'project. This is a cash-flowing 1927 vintage asset with documented upside. Originally built in 1927, this six-unit apartment building blends historic charm with modern infrastructure upgrades and a clear, engineered path to increased value.In 2024, the property was struck by lightning - creating the opportunity to professionally upgrade and improve significant portions of the building.Income Profile (Pre-Strike Performance) (4) Fully renovated 1BR units upstairs rented at $2,500/month each (fully furnished) (2) Downstairs 1BR units rented at $1,400/month each All units separately metered for electric AND waterThis asset has already demonstrated strong rental demand at premium rates.Improvements & InfrastructureAll plumbing and electrical updated upstairs75 percent of plumbing and electrical upgraded downstairsNew rear staircaseNew side porchSeparate electric metersSeparate water metersThe heavy lifting has been done.Engineered UpsideSeller is providing: Full engineering plans for remodel Plans to convert lower units into (2) 2BR/2BA units Contractor bid for completionThis isn't guesswork - it's a mapped-out value-add strategy.Why This Is Compelling Proven rental history Premium furnished rents upstairs Clear pathway to increased NOI Metered utilities reduce landlord expense exposure Historic character with modern systemsFor the right investor, this is a repositioning play with documentation, not speculation.The Big PictureAssets from the 1920s with separate meters, updated systems, and engineering in hand are rare.This property was well maintained prior to the 2024 event and presents a unique opportunity to complete an upgrade plan already in motion.If you understand forced appreciation, this one will make sense.