14 Sanford Boulevard

Description

Exceptional investment opportunity with significant upside through increasing current rents to market rate. Welcome to 14 E. Sandford Blvd, a well-maintained six unit multifamily property that was extensively rebuilt from the foundation up in 2015, including new electrical, plumbing, roofing, and major building systems. The property consists of six spacious 3 bedroom, 2 bathroom apartments, each featuring central heating and air conditioning, hardwood floors, large kitchens, ample closet space, and an open-concept living, dining, and kitchen area. All six apartments were renovated as part of the building’s extensive 2015 reconstruction. Additional amenities include a coin-operated laundry room in the basement and a private storage room for each tenant, providing additional convenience and value. Tenants are responsible for their own heat, hot water, electricity, and cooking gas, helping to keep the owner’s operating expenses low With major improvements already completed, this is an excellent opportunity for an investor seeking a well maintained asset with no deferred maintenance and substantial income growth potential. The property is currently operating at approximately a 6.65% cap rate, with the potential to achieve an 11%+ cap rate as rents are increased toward market levels. A compelling opportunity to acquire a turnkey multifamily asset with strong current income and significant long term upside.

Property Details

Cooling

Central Air

Heating

Forced Air

Basement

Common, See Remarks, Storage Space, Walk-Out Access

Schools