280 LESTER Street Unit# 116

For Sale - $649,000.00

ID#: 28730669

This unit is currently tenanted with a lease (5 years) in place until November 2028, and rent escalates annually from $4,350.50/month now to $5,791.25/month in the final year. Net annual income averages ~$40,293 over the next 3.5 years, resulting in a strong ~6.21% cap rate. There is a 5 year renewal option in the lease. Given the location, secure cash flow, and minimal upkeep, this property would appeal greatly to passive investors. Why Invest? – Long-term, escalating lease in place – Low operational burden – Strong rental growth outlook – Located in high-demand core Perfect for hands-off investors seeking passive income and asset appreciation (id:42870)