1216 Shillington Ave

Located in a strategic area, 1216 Shillington Avenue presents a compelling investment opportunity in the multifamily real estate market. This property sits on 0.46 acres of land and includes a diverse mix of 30 residential units comprising one bachelor, 28 one-bedroom units, and one two-bedroom unit. With a large parking lot at the back, it combines convenience with potential. Projected to generate a Net Operating Income (NOI) of $339,877 in year 1, 1216 Shillington Avenue stands out as a value-add investment. Currently, 13 units are vacant, presenting an immediate opportunity for an investor to implement a renovation and leasing program. This initiative not only promises to enhance the property’s value but also to significantly increase rental income, with an average upside potential of 72%. A distinct financial advantage of this property is the separate metering of hydro for all units, which facilitates a shift of utility costs to tenants and helps in maintaining more predictable operating expenses. For investors seeking a real estate venture with high growth and value-enhancement possibilities, 1216 Shillington Avenue offers a unique opportunity. The property’s location makes it an attractive option for those looking to capitalize on a robust rental market and maximize their investment returns.