Property Description

Victorian Village 4-Unit Near Goodale Park $79K rental Income + ADU Potential. Rare opportunity to acquire a brick four-unit in the heart of Victorian Village just steps from Goodale Park and minutes to the Short North. The property currently produces approximately $79,080 in rental income with upside potential to over $92,000. The building features four one-bedroom units with strong rental demand plus four off-street parking spaces, a valuable amenity in this neighborhood. Current rents are $1,800, $1,645, $1,500, and one unit available for immediate lease-up around $1,645 or ideal for an owner-occupant house-hack opportunity. Buyers may be able to live in one unit while rental income from the other three helps offset the mortgage. The property may qualify for FHA owner-occupant financing with as little as 3.5% down for eligible buyers, and rental income from the additional units may assist with loan qualification.Three units are currently leased to tenants utilizing CMHA vouchers, where the payment standard in this ZIP code allows for up to approximately $1,969 per one-bedroom unit. Voucher tenants often remain long-term, providing stable rental income.Estimated cap rate approximately 7.75% with pro-forma potential above 9%.Rear parking area may offer flexibility for future garage or carriage unit construction (ADU potential) similar to nearby properties, subject to city approvals.

Property Features

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