About 402 Billingsport
Excellent investment opportunity! This fully occupied triplex offers strong existing rental income, separate utilities, and an impressive rear lot with additional potential.
Unit A is located at the front of the property and features 1 bedroom and 1 full bathroom. Unit B is located at the rear and offers 2 bedrooms and 1 full bathroom. Unit C is positioned in the middle and features 3 bedrooms, 1 full bathroom, plus staircase access to the attic.
All three units are currently rented and producing a combined gross annual rental income of approximately $46,164.
Utilities are separately metered for each unit. The landlord currently pays water and sewer, which total approximately $450 per quarter.
Based on the projected sale price of $339,999, current rents, and known operating expenses, the property reflects an approximate 10.2% cap rate. Cap rate is an estimate and does not include vacancy, maintenance, repairs, management, or other potential operating expenses.
The property also features a large rear lot that may offer future subdivision or development potential. Buyer is responsible for completing all due diligence with the municipality regarding zoning, subdivision, approvals, and permitted use.
With three occupied units, strong rental income, separate utilities, and additional land potential, this property presents an excellent opportunity for an investor looking to add a high-performing multifamily asset to their portfolio. Schedule your showing today!
