13-Unit Apartment Building Walking Distance to Covington Square

Bull Realty presents this 13-unit value-add opportunity in a prime location, within walking distance to downtown Covington Square restaurants, bars and shops with a public park directly across the street. The property consists of 12 original units and a newly permitted 13th unit in the walkout basement. All units are all electric, spacious 2 bed/1 bath units with eat-in kitchens that offer modern finishes including stainless steel appliances, granite countertops, hardwood floors and tiled kitchens and baths. All units have dishwashers. In addition to the main building, there is also a separate building in the rear that contains separate storage units for each unit along with a shared laundry room. Four of the units have been converted to allow for in-unit laundry. All units have access to off street parking with a large private tree lined green space in the rear. Several of the tenants are currently at below market rents allowing for significant upside as leases renew. The current owner also doesn’t charge for water or storage units which also presents an opportunity to increase future income.