First Time on the Market in Over 30 Years! This well-maintained Lake City triplex presents investors with stable in-place income, proven tenancy, and a big rental upside! Each unit features a spacious 2-bedroom, 1.5-bath layout with approximately 1,146 sq. ft. of living space, and private balconies that keeps long-term tenant retention. The property also includes a coin-operated laundry. The top unit is rented at a pro-forma rent of $2,500 per month, demonstrating the property’s income potential. Units B and C remain slightly below market rents, creating a value-add opportunity for investors through gradual rent increases! Sitting on a sizable 8,100 sq. ft. LR2-zoned lot, the property offers not only strong current cash flow but also future redevelopment or expansion potential, adding long-term value to the investment. A big highlight is the exceptionally stable tenant history, with residents who have lived here for more than 20 years and take pride in their homes, resulting in consistent occupancy and reliable income over the past 30 years of ownership!

Courtesy of NWMLS
Listing courtesy of Kevin Nguyen of WeLakeside



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Last checked: 2026-02-26 08:31 AM PST