About 222 Cypress Ave
Excellent investment opportunity! This fully occupied four-unit multifamily property offers strong existing rental income and immediate income-producing potential from day one.
Each unit features its own private kitchen and bathroom, with separate electric service for each apartment. The property has four individual electric meters for the units, plus a separate house electric meter, helping keep tenant utility usage clearly separated.
Unit 1 features 2 bedrooms, 1 full bath, its own kitchen, central air and heat, and private access directly from the front porch. Units 2, 3, and 4 each offer 1 bedroom, 1 full bath, their own kitchen, electric baseboard heat, and access through the side entrance along the driveway side of the property.
A shared washer and dryer are located in the basement for tenant use.
The landlord currently pays water, approximately $160 per quarter, and sewer, approximately $279 per quarter. Electric service is separately metered for each unit.
With all four units currently occupied and producing approximately $43,284 in gross annual rental income, this property presents an excellent opportunity for an investor looking to add a strong multifamily asset to their portfolio. Based on the current asking price, current rents, and known operating expenses, the property reflects an approximate 7.6% cap rate.
Four occupied units, separate electric meters, individual kitchens, established rental income, and immediate cash flow make this a property worth a serious look. Schedule your showing today!
