1631 Beechwood Ave

Description

A super investment opportunity with 4 apartment units of varying sizes. The premium 2-bedroom/1 bathroom carriage house unit over the garage would be ideal for an owner occupant who wants to live away from their tenants but have the other 3 units offset the mortgage. The carriage house apartment previously rented for $1650/month. The main building has three units, one on each floor. The first floor unit is a 1 bedroom/1 bathroom unit which currently rents for $1086 per month. That unit is on a MTM lease. The second floor unit is a 2 bedroom/1 bathroom unit which rents for $1450 per month. That lease expires in September 2025. The third floor unit is a super cute studio unit which rents for $500 per month (a friend of the family discount but should rent for at least $700/month) and is on a short-term 6 month lease. For showing, you will see the largest (the carriage house) and smallest units (the studio) with the other units available to see with accepted offer. Most windows have been replaced, the roofs are updated and it is in a super location. Note that there are 2 electric and 3 gas meters and landlord pays all utilities but another arrangement could be made by a new owner. The carriage house unit will be left vacant so a Buyer can decide if they want it rented or to move into it. Owned by the current family for over 30 years, but it is time to retire. Priced well and therefore is being offered strictly in as-is condition but Buyers are welcome to do their inspections of course.