317 5th St

Cash flowing and highly leaseable investment opportunity in a low vacancy neighborhood in the heart of Marysville

This distinguished complex boasts 8 units, each offering 1,200 SF of living space, comprised of 5 two-bedroom one-bathroom apartments and 3 three-bedroom one-bathroom apartments. A significant renovation in 2020 upgraded the property with modern amenities including in-unit washer/dryers, HVAC wall units, and dishwashers, making it a highly desirable residence for tenants. The thoughtful inclusion of these amenities, along with the spacious layouts ideally suited for families or those that want to share costs, contributes to the property’s competitive edge in the market. Priced at $206,250 per door, with a total valuation of $1,650,000 reflecting a 6% capitalization rate, the investment is underscored by a Net Operating Income of $98,974. This includes considerations for pro-forma property taxes and a 3% vacancy reserve, in a market with a current vacancy rate of 5.3%. The recent renovations suggest that the new owner is likely to face fewer immediate, significant deferred maintenance or improvement costs, enhancing the property’s appeal.