About 529 S Pine Street
Are you the kind of investor who is looking for the next high-income producing opportunity? Are you excited by a multi-family building designed for student housing, farm workers, or communal living? If so, this deal is for you. This newly built co-living property has been years in the making, with extensive planning, approvals, and construction is now complete. It offers 42 total bedrooms across six 5-bedroom units and two 6-bedroom units. Each bedroom has its own smart lock, and the shared kitchens and bathrooms create a practical setup for communal, dorm-style living that helps maintain high occupancy and steady income. 3 of the units are to be leased out to a local farmer and filled with migrant workers on a one year lease. The projected rental income for those 3 units is about $4,200 per month. Given this rental rate, the projected rental income for the entire building would be around $30,000 per month. This would bring the annual gross income to $360,000, which supports a 4.6 cap rate at a purchase price of $4,995,000 dollars. The property is also located in an Opportunity Zone, providing valuable tax advantages that can enhance long-term returns. If you want an investment that rewards effort, demands smart management, and delivers the kind of cash flow most properties can't touch, this one deserves your attention.
