Property Description

$300,000 Below Appraised Value | 19-Unit Residential Income Portfolio | Offered at $1,300,000 An independently appraised portfolio valued at $1,600,000 ? available today at $1,300,000. Thats $300,000 in immediate equity at closing, before a single negotiation. This stabilized residential income portfolio comprises 13 single-family residences and 2 triplexes spanning 19 total units across 15 properties. Running at 99% occupancy under continuous professional management, the portfolio generates $18,743 in gross monthly rents ? $224,916 annually. At a standard 40% expense ratio, estimated NOI lands at approximately $134,950, placing this offering at a 10.4% cap rate on the ask price. To put that in perspective: youre buying a sub-9-cap asset for a 10-cap price. The seller is executing a 1031 exchange. The timeline is the buyers advantage. Since acquisition, the seller has made targeted capital investments across the portfolio ? not cosmetic upgrades, but high-ticket mechanical items that have been fully resolved. Three water heaters have been replaced across multiple properties. One furnace was rebuilt and a second was fully replaced. The unit at 2028 Reo received a complete $5,500 renovation and is rent-ready at $1,000/month. The capital has been spent. The savings transfer to you at closing. One unit at 1023 S Penn is currently vacant at a market rate of $700/month ? representing immediate upside for an incoming owner on day one. This is not a distressed asset. This is a performing, cash-flowing portfolio offered below appraised value because the seller needs a clean, timely close. For a buyer ready to move, the math is straightforward: $300,000 in built-in equity, double-digit cap rate, 19 doors, professionally managed, nearly fully occupied, with the heavy capital work already done. Gross Monthly Rents: $18,743 | Gross Annual Rents: $224,916 | Est. NOI: ~$134,950 | Cap Rate: ~10.4% | Appraised Value: $1,600,000 | List Price: $1,300,000

Property Features