548 Fullerton is a legal 3 flat with RM-5 zoning on 175' deep lot, generating $144,600 in rental income. Long term tenants have kept rents lower than market rate. Units 1 + 2 are full floor units. The third floor is currently configured as 2 separate units however the rental income is combined as one unit. Lastly the garden studio apartment currently generates $15,900 and is included in the total income of unit 1. The garden apartment can easily be expanded to become a 1 bedroom which adds $7,200/yearly. Further increased income is possible in unit 3F. Adding a wall to the 20' wide interior of the living room creates a bedroom to generate an additional $3,600/yearly. The seller has updated all electric and plumbing. Each unit has been freshly outfitted with new bathrooms, kitchens, and refinished original hardwood floors. In October of 2023 the roof was fully replaced. Three of the units feature fireplaces (3F is functional, the others are decorative). Each unit has laundry. 548 Fullerton is a fully leased building, last renewal received 12 applications on the first day of showings. As demonstrated, rents easily have room to increase and add extra value. Garden apartment not included in unit count. Expenses are based off year end '22

  • $1,800,000


Floor Plans