22 Ingraham Street

Description

This six-unit multifamily property presents a strong investment opportunity with immediate cash flow and a stable tenant base (all units are currently rented). The building consists of five spacious one-bedroom units Apt B, Apt 1A, Apt 1B, Apt 2A, Apt2B and one two-bedroom unit Apt 3A, each with one full bathroom. Three of the one bedroom apartments include a bonus room/office (1A, 2A, 2B). All apartments are fully applianced, the one-bedroom units include in-unit laundry, providing added convenience for tenants. Landlord pays for utilties for units 1A, and B. Apartments 1B, 2A, 2B, and 3A pay for their own heat (electric baseboard) and hot water. The property also includes a seventh income-producing space: a large workshop currently leased to a handyman under a long-term agreement. The handyman can provide the potential benefit of on-site maintenance and grounds support (if needed). Additional highlights include ample off-street parking for up to nine vehicles and a convenient location near Route 6 and the revitalized downtown district, providing easy access to shopping, dining, and local amenities. Based on the current rent roll and expenses, the property operates at approximately an 8% cap rate. A 2025 expense summary is available upon request. There is also potential for additional upside through rent adjustments or through self-management (current expense breakdown allocates for an off site property manager). Listing agent is an owner. All interior photos were taken prior to tenant move in.