630 N Lorel Avenue
Rare opportunity to acquire a high-performing, turnkey 4-unit brick building on an oversized 50x133 lot with two 2-car garages. Very desirable layout with 2 units on each side of the building. Exceptionally well-maintained and meticulously kept with strong, long-term tenants and pride of ownership throughout. All units are spacious 3BR/1BA with updated kitchens and baths, in-unit washer/dryers, hardwood floors throughout, tall ceilings, large living areas, and ample closet space-highly attractive layouts for tenant retention and rental growth. Building includes circuit breaker electrical, central air and heat, with 3 furnaces and 4 A/C condensers (approx. 4 years old), minimizing near-term capital expenses. Expansive rear porches and a tall, full basement with separate entrances on both sides. The basement includes 4 built-out storage units and offers significant value-add potential for duplex-down or additional units. Property features a new sidewalk and is fully gated for added security. Strong in-place income: $7,055/month and a low operating expenses, making this a compelling cash-flowing asset in today's market. Positioned near Chicago Ave with major ongoing development, including the $37.5M Laramie Bank redevelopment just one block north-driving long-term appreciation and rental demand. Ideal for investors seeking strong cash flow, minimal deferred maintenance, and clear upside potential. Opportunities like this are limited!
- Subway 0.3 mi
- McDonald's 0.3 mi
- MacArthur's Restaurant 0.8 mi
- Subway 0.8 mi
- Church's Chicken 0.8 mi
- One Lake Brewing 0.9 mi
- Marathon 0.2 mi
- Citgo 0.3 mi
- Forty Acres Fresh Market 0.5 mi
- Marathon 0.7 mi
- Marathon 0.8 mi
- Leamington Foods 0.9 mi
- Sweet Clover Park 0.3 mi
- Levin Park 0.3 mi
- Austin Town Hall Park 0.4 mi
- Hubbard Park 0.5 mi
- Cottonwood Park 0.7 mi
- Maragaret Davis Park 0.7 mi
- Urban Essentials Coffee Café 0.2 mi
- Dunkin' 0.3 mi
- New Sound Cafe 0.8 mi
- Dunkin' 0.9 mi
- PTCI 1.2 mi
- Dunkin' 1.3 mi
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MLS data provided through MLS GRID · MRED MLS · MLS# MRD12592879