This unit is currently tenanted with a lease (5 years) in place until November 2028, and rent escalates annually from $4,350.50/month now to $5,791.25/month in the final year. Net annual income averages ~$40,293 over the next 3.5 years, resulting in a strong ~6.21% cap rate. There is a 5 year renewal option in the lease.
Given the location, secure cash flow, and minimal upkeep, this property would appeal greatly to passive investors.
Why Invest?
- Long-term, escalating lease in place
- Low operational burden
- Strong rental growth outlook
- Located in high-demand core
Perfect for hands-off investors seeking passive income and asset appreciation