Description

A rare triplex asset with built-in income, documented upside, and one of the only properties of its kind in the area. Offered at $420,000, supported by a September 2024 appraisal at the same value, this three-unit property is situated on almost 1/3 acre and presents a compelling acquisition for investors or owner-occupants seeking flexibility, durability, and long-term performance. The property consists of three separate 1-bedroom, 1-bathroom units—addresses 6927, 6925, and 6923—each with independent functionality, three separate electric meters, and strong rental demand fundamentals. Unit 6927 is currently rented at $1,100 per month. One unit is owner-occupied, and the third is used for business storage. Per the owner, the two non-rented units carry an estimated market rent of $1,100–$1,200 per month each, supporting a projected gross annual income of up to $39,600 once stabilized. With annual property taxes of approximately $3,445, no HOA, and a simplified expense structure, the property offers an attractive income-to-price ratio and a clear path toward improved operating performance. Recent capital improvements include a roof replacement in 2019 and exterior paint completed approximately three years ago, reducing near-term maintenance exposure and preserving asset integrity. The property is fully enclosed with an 8-foot perimeter fence and equipped with security cameras, contributing to both tenant retention and asset protection. Unit 6925 has been fully renovated, including the bathroom, kitchen, and living room, along with a new exhaust hood, water heater, kitchen closet, and pantries. Tile flooring has been installed in the kitchen and bathroom. (Stove and refrigerator are not currently installed, allowing the next owner to complete final outfitting.) Unit 6923 features new ceiling tiles, updated flooring, new window air-conditioning units, new blinds, and a new water heater, positioning the unit as largely rent-ready with minimal additional capital required. The 0.29 acres of property, 8 foot fences and substantial 20x18 storage shed with a 6-inch thick concrete slab adds functional value rarely found in properties of this size and configuration, allowing tenants to potentially park commercial trailers or vehicles at the rear of the property. All units are served by window AC units. The location is exceptionally central, supporting consistent tenant demand and long-term marketability. As one of the only triplexes in the immediate area, this property offers a scarcity advantage that is difficult to replicate. Whether you’re analyzing cap-rate potential, seeking a value-add or stabilization opportunity, or pursuing a house-hacking or multi-income strategy, this triplex delivers flexibility, income stability, and long-term upside—all supported by a recent appraisal, documented improvements, and realistic rent projections.