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Investor & House-Hacker Opportunity | Tudor Revival Brick 4-Unit | Driving Park

Rare opportunity to acquire a Tudor Revival-style brick 4-unit in Driving Park featuring a vacant, newly renovated unit ready for immediate occupancy. This property is built for both investors and owner-occupants and is positioned to meet the 1% rule once fully stabilized.

The building features four 2-bed / 1-bath units in a classic up/down layout on a large lot. Three units are currently occupied and one unit is vacant and recently completed, making it ideal for a house-hacker or immediate lease-up.

Recent capital improvements include 23 new windows, a rubber roof installed in 2018 (slate portion remains), and designated off-street parking for each unit located behind the property off the alley. Interior upgrades include luxury flooring in two renovated units, updated kitchens and bathrooms, new countertops, and tile finishes in the newly completed vacant unit. A third unit has been partially updated and repaired as needed, offering additional future upside. Owner pays water.

Current rents are Section 8, with three occupied units generating $1,200, $1,125, and $1,050 per month. Annual rent increases are currently under review, with expectations of increases to approximately $1,225/month or higher once approved. The vacant unit was previously rented through Section 8 and has since been renovated. Total potential gross market rent once fully stabilized is estimated at $5,568/month.

An excellent opportunity for an owner-occupant looking to live in one unit while collecting income from the others, or an investor seeking a partially stabilized asset with renovations largely complete and remaining upside.