Property Description

TURNKEY CASH COW with $31,990 pro forma monthly rent roll and 9%+ cap rate! 3-6 Witherbee Terrace is a 4 building portfolio comprising of 13 adjacent units on a dead end street. All occupying tenants are rent subsidized by various housing authority programs. At present, nearly 90% of the monthly rent comes from various tenant subsidy programs, which creates a turnkey operation with a stable, predictable revenue stream. Extensive improvements and renovations have been made to the property, and the majority of units and common areas have seen major improvements. Witherbee Terrace has 4 buildings on it, and this is your opportunity to own an entire street! 3 Witherbee is four large studios, 4 Witherbee is two 2-bedrooms and one large studio, 5 Witherbee is a 4-bedroom single family and 6 Witherbee is four studios and a 2-bedroom. A common dumpster serves all tenants. Twelve of thirteen units are occupied and professional property management is in place.

Property Features