Incredible development opportunity for the savvy investor! This sale is comprised of (13) condos (13 out of 14 at the complex). Proximity to the Lake is second to none as these units essentially sit on the shore! All 13 condos are primed and ready for an investor to add their finishing touches and create significant equity as a long term hold, or flip for a profit. Each unit is a townhome style, 2 bedroom, 1.5 bath unit. All condos have had their exteriors renovated including vinyl siding, new Pella windows, gutters, soffits, paint and wiring. In addition, all units have updated HVAC systems including central air! The interiors of the condos need to be finished, but this allows a buyer to choose their finish level for each individual unit. Most units will need drywall, plumbing, paint, kitchens and bathrooms, but the canvas is ready! As a long term hold, these units can easily gross over $14,000 per month once fully rented! At a 7% cap rate upon stabilization, a buyer can expect an as stabilized value of over $1.4M! Apartments next door also for sale by same owner (12 units).

Based on information submitted to MLS Now as of March 22, 2025 12:28 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. Listing information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Property Details of 3960 W Erie Avenue

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Jesse Allison Team