About 110-114 W Ridge St
$500,000+ in Renovations | Turnkey 9-Unit Portfolio | 9% Cap Rate
This stunning 9-unit multi-family portfolio, spanning three parcels, has undergone over $500,000 in renovations, offering a truly turnkey investment opportunity. Boasting $125700 in gross income and $87344 in net operating income, this portfolio delivers a 9% cap rate and strong cash-on-cash returns under typical financing terms.
Ownership spared no expense in transforming these properties:
Fully renovated units with new bathrooms, vanities, lighting, hardwood floors, carpet, kitchens, appliances, and paint
Refinished and new cabinetry, with granite countertops in select kitchens
A brand-new faade enhancing curb appeal and community presence
25+ new windows, updated plumbing, electrical systems, and new water heaters
Rebuilt rear decks and balconies, and a new roof
The unit mix includes:
(6) large 1BR/1BA units
(1) spacious 3BR/1BA unit with a rear deck
(1) expansive 4BR/2BA bi-level unit with a private rear deck
(1) commercial unit – a veteran-owned and operated barbershop
All tenants are newly placed, clean, and on 1-year leases. The property is fully code-compliant, delivered with a clear Certificate of Occupancy and new rental licenses from the city.
Located adjacent to the brand-new St. Luke’s Hospital and surrounded by local businesses, this asset offers mountain views, prime walkability, and close proximity to highways, shopping, police, and community hubs like local churches.
Comparable properties in the area are trading at $115K–$130K per unit, reflecting significant upside and appreciation potential as the town experiences growth driven by rising employment demand.
This is a recession-resistant, cash-flowing asset—ideal for the serious investor looking to acquire a beautifully renovated, income-generating portfolio with minimal maintenance needs.
