Rare opportunity to finish a building with 13%++ cap rate!! Unlock the potential of this value-add property, where the heavy lifting of renovations has already been completed, all major structural work done- framing, windows, rough plumbing, and electrical. The current framing that has been completed enables various uses, from 5 apartments (zoning variance is required), to 4 apartments, triplex, duplex, down to extra-large single that can be used as a group-housing of 12 bedrooms. Currently zoned as RSA5, previously was zoned as multi-unit, up to 5 units. ARV $850k++ Development Options: ================= - 5-Unit Apartment Building: Requires zoning variance, previously configured as multi-unit. - 4 Units, Triplex, or Duplex: Choose the layout that suits your investment strategy. - Single-Family Group Housing: NO NEED FOR VARIANCE- Up to 12 bedrooms, perfect for high-rent group setups like transitional or veteran housing. Projected Rents: In any configuration, the total potential income (conservative estimate) $7,300/mo or $87,600 annually!: ================= - Multi-Family (5 Units): Around $1,450 to $1,500 per unit per month - Group Housing: organizations will pay over $8k a month for a 12BRs property. Remaining Work (Estimated Cost $120,000 to $160,000): ================= - Install HVAC. - Hang drywall. - Paint and lay down flooring. - Fit out kitchens and bathrooms. The building was zoned previously as multi-unit and is sold as-is, blueprints are attached