Turnkey, fully rented income-producing investment with strong cash flow. This well-maintained, wheelchair-accessible 7-suite multi-family property offers an outstanding opportunity for investors seeking stable rental income. Conveniently located just minutes from Melville, this approximately 5,500 sq. ft. building sits on a generous 140' x 150' lot and features seven fully rented well-maintained rental suites, including four 1-bedroom units, two 2-bedroom units, and one bachelor suite. Designed for tenant comfort and ease of management, the property offers a spacious common area, free shared laundry, private patio space for each suite, beautifully maintained green space, and six electrified parking stalls. The building has been well cared for and provides comfortable living in a quiet community, making it attractive to long-term tenants. With an approximate gross annual rental income of $68,400, estimated operating expenses of $29,000, and an approximate Net Operating Income (NOI) of $39,400, this property presents a solid investment opportunity with immediate income and future appreciation potential. Whether you're expanding your real estate portfolio or purchasing your first multi-family investment, this property offers an excellent combination of cash flow, stability, and value. All measurements, income, expenses, and projections are approximate and should be independently verified by interested buyers.
Structure Type:
Low Rise, Multi Family
Property Sub Type:
Residential
Lot Details:
140.00x150
Num Stories:
1
Bathrooms:
-
(Full:-, Half:-)
Year built:
1988
(Age: 38)
General Listing Location:
Killaly, Killaly
Tenant Pays:
Heat
Association Fee Frequency:
Monthly
Taxes:
$4,387 /
2025
Negotiable
Appliances:
Dryer, Refrigerator, Stove, Washer
Lease Considered:
No
Community Features:
Other, See Remarks
Pets Comments:
Pets Restrictions:Allowed With Restrictions
Exterior Features:
Landscaping
Lot Features:
Back Yard, Front Yard, Garden, Sprinklers None, Trees
Patio And Porch Features:
Deck, Patio
Security Features:
Smoke Detector(s), Security Lights
Num Stories:
1
Construction Materials:
Brick, Stucco, Wood Siding, Wood Frame
Flooring:
Wood
# Units In Community:
7
# Units:
7
Heating:
Electric, Hot Water, Natural Gas
Covered Spaces:
0
Uncovered Spaces:
6
Total Parking Spaces:
6
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Bedroom featuring neutral wall colors, textured ceiling, a window with drapery, and wall-mounted lighting
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Neutral-toned carpeting spans the floor, complemented by light-colored walls and a textured ceiling
Hallway featuring a ceiling-mounted globe light fixture, two closet doors, and light-toned wall paint
Functional kitchen space featuring cream cabinetry with wood trim, a double basin stainless steel sink, and a window with outdoor scenery
Kitchen featuring white cabinetry with wood trim, white appliances, and dark-toned floor tiling
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Kitchen featuring extensive upper and lower cabinetry, laminate countertops, a built-in sink, and range hood
Galley kitchen featuring white cabinetry with wood-finish trim, a white freestanding refrigerator, white electric range, and a pass-through window
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Bathroom featuring a toilet, tile-look flooring, light-toned vanity with an integrated sink, and an embedded mirror
Bathroom featuring a built-in shower/tub combination, wall-mounted towel bar, and a single vanity with an integrated sink and base cabinetry
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Tub and shower combination unit featuring a handheld showerhead and grab bar
Dedicated laundry area featuring a top-load washing machine and a front-load dryer
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Utility area featuring a boiler unit, exposed copper piping, and a utility sink
Commercial utility area featuring multiple electrical meters, extensive conduit runs, and various service panels
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