132 Terrace Ave

Turnkey triplex with value add opportunities. Live in one unit and rent the other to subsidize the expenses, or lease everything as a pure investment cash cow. The building has two updated 3-bed, 2-bath units over a finished 1-bed, 1-bath in law suite, so it appeals to a wide range of tenants. Outside, you'll find a sunny private yard with a gazebo and a terrace made perfect for morning coffee. This property has a strong rental history as of this past summer. With each floor occupied, the total rent collected was 6,600 per month. With lower taxes and less owner expenses, that cap rate was approximately 8%. With light cosmetic upgrades even that could be improved upon.