We can’t vouch for the quality of the stated “$7,000” per month rent roll nor the legality of all three units (the listing notes “with permit” but then features only two meters), but from a cap rate perspective one can’t help but be intrigued by how the proffered numbers for 1270-1272 Fitzgerald Avenue (asking $699,950) appear on paper.
It’s a bit of caution, however, by way of the listing for 1636 Palou Avenue which features three vacant units and is currently asking $599,950. From the listing: “Identical building was sold for $1,100,000 3 years ago.” No word on its rent roll at the time.
∙ Listing: 1270-1272 Fitzgerald Avenue (9/5) – $699,950 [MLS]
∙ Listing: 1636 Palou Avenue (9/4) – $599,950 [MLS]