1930 E Stella St E Stella Street

Description

Introducing an exceptional investment opportunity brought to you by the PCREA team. This portfolio is the result of over 45 years of acquisition by a family-owned business, meticulously maintained to this day, and now for sale due to the current owners wanting to retire. The portfolio boasts the majority of both sides of an entire city block and includes 14 fully-occupied single-family homes, two 5-unit apartment buildings, a 6500 +/- sq ft lot, 6 bay small rental garage spaces, and a 30,000 +/- sq ft warehouse. Situated in a cul-de-sac on the 1900 block of E Stella St, which ends at an elementary school, this portfolio is in a prime location, close to local highways and mass development. The residential units are fully occupied, grossing $317,400 annually in rent, with all tenants paying on time. Does not include the owner-occupied industrial spaces (warehouse, garage). Furthermore, the two five-unit buildings have the potential to increase their rents by at least 20% without capital investment. The warehouse lot and garage spaces are currently owner-occupied and will be sold vacant. Based on market comps, the warehouse should yield between $8.15 and $9 per sq ft annually. This pro forma rent is based on 68 of 20,000 ft.² of the warehouse. With minimal investment, this portfolio offers endless opportunities for future value and current rental increases. When fully occupied, it is expected to yield around a 10% cap rate. The convenience of having all properties on one block makes managing this portfolio a breeze. Perfect for investors, developers, or owner-occupants seeking industrial space, this portfolio is a rare and unique investment opportunity not to be missed. Contact us now to schedule a tour and secure your investment in this highly sought-after location.