913-29 W Monterey Ct

Property Overview

Three detached four-plex buildings totaling 12 units at 913, 917 and 929 West Monterey Court boast strong in place cash flow and operational stability. The in place cap rate is 9.04%, with rental income of $15,445 per month once the last unit leases are signed.

The property consists of 12 units, 9 occupied and 3 vacant, with two vacancies at 913 and two at 917 carried at market rent, presenting a clear lease up opportunity for a new owner. Additional revenue can be made from on site laundry.

Renovated in 2024, the property features updated electrical, plumbing, roofing and window systems, contributing to reduced maintenance and long term durability. Each unit is individually metered for electricity. The gross building area is approximately 16,538 sf with 16 off street parking spaces, in a favorable Flood Zone X where flood insurance is typically not required.

A purchaser can acquire a stabilized asset and continue to raise rents to market, improving the cap rate to 10% plus. Each 4-plex can be purchased separately or as a package. Buildings are occupied, so please allow at least 24 hours to view the occupied units.