Located in Barneveld, this four-unit residential property is offered at a purchase price of $400,000, with an after-repair value (ARV) of approximately $515,000. It represents a lucrative investment opportunity, especially given its proximity to major local employers like Vortex, Epic Solutions, and Duluth Trading Company, which bolsters the area’s rental demand.
The property currently generates $800 per unit in monthly rental income, with the potential to increase to $1,100 after implementing strategic renovations. These upgrades not only promise enhanced profitability but also align with the community’s growing appeal due to these key employers.
Investors will be reassured to know that the property’s roof and siding are in excellent condition, requiring no immediate exterior investments. The renovation plan includes a $15,000 budget for extensive updates on two units and a $10,000 budget for lighter refurbishments on the remaining units, covering new flooring, paint, and necessary deep cleaning to elevate their market readiness.
Each unit features efficient infrared ceiling heating and separately metered utilities, simplifying management tasks and ensuring fair billing practices. Additionally, the property offers a small parking lot, providing convenient off-street parking for tenants.
This investment is ideally suited for those looking to capitalize on Barneveld’s growing market, driven by the presence of Vortex, Epic Solutions, and Duluth Trading Company. With a clear strategy for upgrades and a solid understanding of the local employment landscape, investors can achieve immediate cash flow and long-term growth, making this property a compelling addition to any real estate portfolio.