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Incredible opportunity to own an asset already generating an 8.5% cap rate with room to improve. These properties were once used as feed mills and converted into apartments in the 60's. onsist of 2 neighboring buildings. All 13 units are fully occupied and generating just shy of $10k each month. Unit breakdown is as follows: (9)-2bed, (2) 3bed, (1) 1bed and (1) studio. Thanks to electric baseboards and taxes at just $3600/year the expenses are very low- which means more profit for you. In 2022 they were around $35k/year and this year they're expected to stay below $40k. Theres a huge opportunity to create additional value through updating the units and increasing rents (although their current condition is in line with the market). There another huge opportunity to create value through taking advantage of unused spaces. Theres an area that could be converted into a 14th unit, another area that would make for great private storage ($$$) and an area that just needs an electric upgrade and some washer/dryers to become a laundry room that would generate addition money and add an amenity. This value add property is already performed well above the standard cap rate with nothing but opportunity for the next buyer to create more.