The Heights represents the strongest demand for residential rentals investors of small multifamily properties want and to be on the Blvd makes this an absolute slam dunk for the right value-add operator. Superb density ratio with 10 units on 7,500sf of land, ample 1:1 parking ratio plus all spots are covered and additional street parking makes this current under performer to become something great with a forward-thinking vision because the location is worth investing in. Capture the upside, manufacture the advantage, and the right investor will take this property that currently has the lowest rents available on the Blvd. to the next level. 807 Heights Blvd. has good bones, 100% full, needs work but is functional, as an inferior competitor for decades as other similar vintage assets up & down the Blvd. have had added value and increased rental rates. There is nothing available, or deliverable on the Blvd. for $110k a door, and nearly at land value that has this type of upside.
Listing courtesy of Inner Loop West.
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