Mellon Square Apartments

About this property

This 17-unit multifamily property offers an opportunity to acquire a recently renovated asset at a discount to its stabilized value while the property completes its lease-up phase. The units were extensively renovated in 2024/2025 and feature desirable two-bedroom, one-bath floor plans with approximately 700 square feet each. Current asking rents are $795 per month, with additional tenant reimbursements for water and trash providing supplemental income. The property offers investors the potential for increased cash flow and value as occupancy approaches stabilized levels.

Highlights

• Value-add potential through continued lease-up
• Discount to projected stabilized value
• Turn-key asset with limited renovation needs

Building details

Floors

1

Building size

11,900 SF

Zoning

RMF2

Year built

1963

Lot size

0.81 acres

Property type

Multifamily

Location