5924 Bellona Avenue

Description

A rare well-maintained 3 unit gem in Homeland! One of only three multifamily properties to go on the market in Homeland in the last 10 years! Property includes two 2bd/2ba units and one 1bd/1ba unit. Long-term tenants with under-market leases. Units include hardwood floors, original charm, laminate countertops, tile bathrooms and spacious layouts. Laundry located in the basement with storage for all units. Property has been well-cared for and within the same family for over 30 years. Central boiler was recently replaced. Separate meters for gas and electric for all units. Large rear yard and bonus lot that is has subdivision potential. Property is oozing with potential and cash flow can be improved by raising rental rates to market rate, installing a water reimbursement program, upgrading kitchens and bathrooms, adding central air and adding laundry to all units. Potential for a 10%+ cap rate, which is unheard of in this market. Perfect for a savvy investor or owner-occupant. Truly a once-in-a-lifetime opportunity for this neighborhood. Access by open house only, Saturday September 16th from 11am-2pm. Sold strictly as-is. All information is deemed to be accurate, however, buyer should verify.