510 VALOIS DRIVE

Key facts

• Property type: Multi-family
• Transaction: For Sale
• Price: $999,900
• Bathrooms: 8
• Interior size: 6,142 sqft
• Lot size: 0.4
• Parking: 2
• Listing key: 29274958

Listing overview

Looking for a strong cash-flowing investment that meets the 1% rule with room to increase value even further? 8% cap rate including vacancy, maintenance and management expenses. This property offers 8 fully tenanted units and is zoned for up to 10 residential apartments. With interior existing unused space, there's potential to add 2 additional 1-bedroom units-a built-in value-add opportunity. Unit 4 is currently under-rented, providing additional upside. Most units have already seen upgrades and are occupied by great tenants. Recent capital improvements include new weeping tile (2023) on the north and east sides, resolving previous water penetration concerns. The original structure features a solid rock foundation, while the addition (c. 1987) provides a purpose built 6 unit addition. Other highlights include a double garage with an attached outbuilding for extra storage, two furnaces...