1124 H Street

Description

1124/1126 H St. Property is at a 6.5% cap rate (with the proforma of the owner's rent amount of $1,100) and there is great potential for upside through interior improvements and rent increases. All of the properties are rented under market value. This commercial multi-family property includes four 2-bed, 1-bath units in a two-story 4-plex with a tile roof, plus a detached 2-bed, 1-bath single-family home (note: bedrooms in the house do not have closets but is a 2 bedroom per assessor records). 4 units are tenant-occupied on month-to-month leases, offering flexibility for value-add strategies and one of the 4-plex units will be delivered vacant as of June 30th. The current owner occupies a unit in the 4-plex and will vacate at close of escrow. Two of the 4-plex units have backyards. Partial updates include newer LVP flooring and painted cabinets in one unit, and painted cabinets in another. Remaining units are in original or mixed condition. Ideal for a multi-family buyer seeking immediate returns and long-term growth potential and is being sold as- is.