8537 Pineland Drive

Highlights:

• Lot Features: Level
• Gross Income: 69840
• Bathrooms Total: 0
• Cooling: Central Air
• Heating: Central, Heat Pump
• Construction Materials: Vinyl Siding
• Parking Features: Level Driveway, Driveway
• Accessibility Features: None
• Security Features: Carbon Monoxide Detector(s)

Description:

This fully renovated quadruplex is a prime investment opportunity, offering strong cash flow and professional management for a seamless ownership experience. Appraised at $830,000 in November 2024 following $120,000 in recent upgrades, this 4,520 sqft property features four spacious townhome-style units, each with 2 bedrooms and 2 baths. All units are leased, generating a projected annual gross income of $69,840 at full occupancy. With estimated expenses at 16% of gross income ($11,174.40), the property delivers a Net Operating Income (NOI) of $58,665.60 and an actual CAP rate of 7.52%, with a projected increase to 8%. Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52, resulting in a projected annual cash flow of $15,241.08. Recent upgrades include expansive back decks and additional storage, all backing onto a peaceful greenbelt. Professionally managed and move-in ready, this property offers a turnkey opportunity for investors looking to build long-term wealth ***No showings until the due diligence period. All units are occupied—please do not disturb tenants.*** The seller is willing to negotiate an interest rate buy-down to improve cash flow.