Description
This brand-new multifamily construction in Hiawatha offers a rare opportunity to own a low-maintenance, income-producing asset in a high-demand area close to I-380, schools, and medical centers. With a current rent roll of $6,500 per month, this property delivers immediate, stabilized income from day one. This newly built multifamily features three two-story units, each offering approximately 1,750 finished square feet with 3 bedrooms and 2.5 bathrooms. Every unit showcases an open-concept main level with a spacious living area, a modern kitchen, and a dining space, complemented by white cabinetry, quartz countertops, stainless steel appliances, durable LVP flooring, and a convenient half bath. Sliding patio doors lead to outdoor space, enhancing tenant appeal and livability. Upstairs, each unit includes a private primary suite with a walk-in closet and an ensuite bath, two additional well-sized bedrooms, a full hallway bathroom, and upper-level laundry for everyday convenience. From an investment standpoint, this property is built for efficiency and long-term performance. With a brand-new roof, furnaces, air conditioning systems, appliances, and finishes throughout, owners can expect minimal near-term maintenance and strong operational stability. All utilities are separately metered, allowing investors to pass costs through to tenants and keep operating expenses more predictable. The off-street parking lot provides ample space, with flexibility for the new owner to designate or assign spots as desired. With no HOA or restrictive covenants, investors retain strong flexibility in use, making the property suitable for a mix of long-term, mid-term, or potential short-term rental strategies, subject to local regulations and permitting. With an annual gross income of approximately $78,000, this asset offers an attractive income profile. Currently stabilized and income-producing, this property provides a clean, modern product in a growing, well-located community, an appealing opportunity for both new and seasoned investors focused on cash flow and long-term appreciation potential.
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0BEDS
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0.22ACRES
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0BATHS
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01/2 BATHS
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5,250SQFT
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$162$/SQFT
School Information
Description
This brand-new multifamily construction in Hiawatha offers a rare opportunity to own a low-maintenance, income-producing asset in a high-demand area close to I-380, schools, and medical centers. With a current rent roll of $6,500 per month, this property delivers immediate, stabilized income from day one. This newly built multifamily features three two-story units, each offering approximately 1,750 finished square feet with 3 bedrooms and 2.5 bathrooms. Every unit showcases an open-concept main level with a spacious living area, a modern kitchen, and a dining space, complemented by white cabinetry, quartz countertops, stainless steel appliances, durable LVP flooring, and a convenient half bath. Sliding patio doors lead to outdoor space, enhancing tenant appeal and livability. Upstairs, each unit includes a private primary suite with a walk-in closet and an ensuite bath, two additional well-sized bedrooms, a full hallway bathroom, and upper-level laundry for everyday convenience. From an investment standpoint, this property is built for efficiency and long-term performance. With a brand-new roof, furnaces, air conditioning systems, appliances, and finishes throughout, owners can expect minimal near-term maintenance and strong operational stability. All utilities are separately metered, allowing investors to pass costs through to tenants and keep operating expenses more predictable. The off-street parking lot provides ample space, with flexibility for the new owner to designate or assign spots as desired. With no HOA or restrictive covenants, investors retain strong flexibility in use, making the property suitable for a mix of long-term, mid-term, or potential short-term rental strategies, subject to local regulations and permitting. With an annual gross income of approximately $78,000, this asset offers an attractive income profile. Currently stabilized and income-producing, this property provides a clean, modern product in a growing, well-located community, an appealing opportunity for both new and seasoned investors focused on cash flow and long-term appreciation potential.