1551 Berkeley Avenue

Description

Welcome to your next investment opportunity! Located in the desirable Walnut Hills neighborhood of Petersburg, VA, this fantastic value add property is a rare find. With its location in a neighborhood full of large, affluent and well-kept homes, this multi-family rental stands out as a great investment option. Featuring strong and steady cash flow from long-term tenants who have been in the property for the past 3 to 5 years, each unit is individually metered for electric and gas, while water, sewer, and trash are paid for by the owner/landlord. The downstairs unit consists of 1 bed and 1 bath, while the upstairs unit features 2 beds and 1 bath. The downstairs tenant is currently month-to-month, while the upstairs tenant recently renewed for a 1-year term. This property offers a range of options for investors, including house hacking, long-term value-add hold, or even conversion to a single-family flip. The parcel and all improvements thereon come in as is condition. See Proforma/Rent Roll in Supplements.