3203 E 38th Avenue

INVESTMENT OPPORTUNITY! INCOME-PRODUCING PROPERTY WITH ESTABLISHED RENTAL INCOME!

Discover an exceptional opportunity to own a beautifully renovated, income-producing property in a rapidly gentrifying neighborhood. Whether you're an experienced real estate investor or looking to purchase your first investment property, this unique 4-bedroom, 2-bath home offers an attractive combination of existing rental income, modern upgrades, and long-term investment potential.

ALREADY GENERATING $3,750 IN POTENTIAL MONTHLY RENTAL INCOME!

Currently configured and operating as a fully-furnished rooming house, this property offers investors an opportunity to step into an established rental operation. Each of the three larger bedrooms generates $1,000 per month, while the smallest bedroom is being marketed at $750 per month and is expected to be occupied soon. With all four rooms occupied at the advertised rates, the property has the potential to generate $3,750 per month, or $45,000 annually, in gross rental income.

The current residents have taken exceptional care of the property, keeping the renovations, upgrades, and interior finishes in mint condition.

Unlike typical cookie-cutter properties, this home offers distinctive character, vintage architectural details, and thoughtfully selected modern upgrades. The spacious floor plan features four bedrooms, including a primary bedroom with a large walk-in closet, two full bathrooms, a dedicated den, and a separate laundry room with additional storage. The property also features a covered carport and sits on an expansive lot with a large yard surrounding the home. Outdoor amenities include a custom-built table and the beginnings of an outdoor kitchen, creating additional opportunities to enhance the property's appeal and functionality.

PROPERTY FEATURES & MAJOR UPDATES:

• Four bedrooms currently configured for individual room rentals.

• Three bedrooms producing $1,000/month each.

• Smallest bedroom marketed at $750/month, with occupancy anticipated soon.

• Potential gross rental income of $3,750/month ($45,000 annually) at advertised rates with full occupancy.

• Two full bathrooms

• Primary bedroom with large walk-in closet

• Dedicated den

• Separate laundry room with additional storage

• Covered carport

• Expansive yard surrounding the home

• Custom-built outdoor table

• Beginnings of an outdoor kitchen

• 2023 roof

• 2019 HVAC system

• 2025 water heater

• Updated plumbing

• Renovations and interior finishes maintained in mint condition

WHY INVESTORS SHOULD TAKE NOTICE:

• Existing income-producing rooming house configuration.

• Opportunity to acquire an established fully-furnished rental setup.

• Attractive gross income potential for both experienced and first-time investors.

• Potential to continue the current room rental arrangement or explore alternative rental strategies, subject to applicable regulations.

• Spacious property with character, modern improvements, and room for future enhancements.

• Located in a gentrifying neighborhood with potential for long-term appreciation.

Whether you're looking to purchase your first investment property, expand your existing rental portfolio, or acquire an income-producing asset in this declining market, this property offers an opportunity to put your investment dollars to work.