IN PLACE 7% CAP RATE. Turnkey seven-unit investment property in Fitchburg with major capital upgrades completed and good tenancy in place. Six one-bedroom units and one two-bedroom, five fully renovated. Current ownership's extensive improvement program significantly reduces near-term capital requirements for an incoming investor: full electrical upgrade with individual panels and meters, heating system replacements in most units, renovated laundry room, new garage roof and door, upgraded exterior egress and emergency lighting, and comprehensive landscaping. Most units are individually gas metered, with separation infrastructure in place at the remainder requiring only final connection. $120,000 in place income with meaningful upside; two tenancy-at-will units offer immediate opportunity to bring rents to market. Large lot with fourteen off-street parking spaces, two per unit, plus a garage for supplemental income — parking you rarely get in Fitchburg.
Listing courtesy of Listing Agent: James Glickman from Listing Office: NAI Glickman Kovago & Jacobs.
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