Property Highlights

Historic 6-unit property in Midtown location
Detached 2BR cottage with separate meter
Plenty of parking with rear lot and driveway
Close to Lakebottom Park and tree-lined avenue
Mature trees provide shaded setting
Income opportunity with rent increase potential

Overview

Attention Investors with Vision! This is your chance to take a true Midtown classic and transform it into a high-performing asset. Located in the historic & highly desirable St. Elmo's Park, this 6-unit property sits on beautiful tree-lined 18th Ave, just a short walk from Lakebottom Park. The main brick home holds five units, w/ a detached 2BR cottage in the back - giving you six total income-producing doors. There's plenty of parking w/ a rear lot & a half-circle driveway. The property is shaded by mature trees & has historic charm, but it's ready for an investor who isn't afraid to make some short term improvements for long term rewards. These units could benefit from updating & modernizing to achieve top-of-market rents, making this a prime value-add opportunity. Current rents include utilities - Unit A (1BR/1BA) at $850/month, Unit B (1BR/1BA two-story w/ spiral staircase) at $650, Unit C (1BR/1BA) at $850, and Unit E (Studio) at $650. Unit D (Studio) is vacant w/ fresh paint & newly stained floors, previously renting at $650, & the cottage (with new paint, carpet, and its own meter) historically rented at $650. When fully occupied, the property brought in $4,300 per month - w/ clear potential to push rents significantly higher after upgrades. This is not just a passive buy-and-hold; it's a project for an investor who wants to add value, reposition the property, & build serious cash flow. With its unbeatable Midtown location, strong rental demand, & additional income potential from the storage shed & modernizing the interiors, this property is ready to become a true portfolio gem. Schedule your private tour today! Unit D & the Cottage can be shown by appointment, while Units A, B, C, & E may be viewed during Due Diligence. Please do not disturb tenants. Part of an Estate Sale that has cleared Probate, this property does not include Rent Rolls or T12 reports. The previous owner accepted cash payments and managed the property personally well into her 90s.

Show More Show Less