Property Type:
Commercial Sale
Square Footage:
6,811
Lot Size (sq. ft.):
11,761
Status:
Active
Current Price:
$1,200,000
List Date:
5/02/2026
Last Modified:
5/14/2026
Description
Situated directly across from Lake Flower and Riverside Park, this 9-unit multifamily delivers immediate cash flow with significant upside. Current gross income is $11,650/month with rents running below market. The next owner inherits a stabilized asset and a clear path to forced appreciation.
Unit 1 was recently renovated, establishing a proven value-add template for the portfolio. Units 5 and 7 offer private shared balcony access with stunning lake and mountain views. Unit 7, the owner's suite, features 3 beds, 2 baths, a Jacuzzi tub, skylights, wood stove fireplace, custom kitchen, and in-unit laundry. Most tenants cover their own utilities, keeping operating expenses lean and boosting net returns.
Coin-operated basement laundry generates additional ancillary income. An on-site property manager resides in the building at reduced rent. Extensive foundation work was completed by the prior owner, reducing near-term capital risk.
Riverside Park steps from the front door hosts free live music and a weekly farmers market during the warmer months adding genuine lifestyle value that supports tenant retention and attracts quality renters.
Four-season tourism demand, protected land supply, a tight rental market, and a high cap rate make this a compelling long-term hold.
