Investment Overview

Marcus & Millichap is pleased to present this 16-unit multifamily asset, originally constructed in 1994. The property consists of sixteen one-bedroom, one-bathroom units, all featuring identical layouts, allowing for operational efficiency and streamlined maintenance. The building is equipped with a boiler-fed radiant heating system, with the landlord responsible for water and heat, while tenants pay electric, creating a balanced expense structure. Additional property features include a sprinkler system, recently resurfaced parking lot with crushed asphalt, and a common area with a full kitchen for tenant use, enhancing overall tenant experience. The property benefits from stable occupancy supported by a base of long-term tenants and is in a limited-inventory market with minimal competing supply. Tenants also have access to fiber internet, an increasingly important amenity that supports retention and marketability. With its straightforward unit mix, ease of management, and consistent demand drivers, the asset presents a stable, income-producing investment opportunity with long-term upside potential.