3203 E 38TH AVE

About this home

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.