5836 Catalpa Avenue

Description

For Sale: 58-34 & 58-36 Catalpa Avenue Mixed-Use Investment Property with Strong Upside. Both Building Together priced at $3,175,000. An excellent opportunity to acquire two mixed-use buildings situated on a single lot in a desirable location. Located at 5834 and 5836 Catalpa Avenue, this property features a total of four residential units and a commercial space currently operated as a funeral home. Each building offers three stories plus a fully finished basement, maximizing usable space and income potential. Property Overview: Lot includes two attached buildings Each building has: Three stories + full finished basement Ground Floor & Basement: Combined commercial use (Funeral Home approx. 2,200 sq ft) Second Floor: Two 3-bedroom, 1-bath apartments (one per building) Third Floor: Two additional 3-bedroom, 1-bath apartments (one per building) Basement: Finished and utilized as part of the funeral home Current Income: Commercial Tenant (Funeral Home):$6,000/month Lease expires January 2026 Residential Units:Three units rented with a total of $5,550/month One unit currently vacant Total Current Income: $11,550/month Potential Rental Income: Commercial Space (Funeral Home): Estimated market rent: $8,000/month Four 3-Bedroom Apartments: Estimated total market rent: $13,200/month (~$3,300/month per unit) Total Potential Income: $21,200/month This property offers immediate income with significant upside through leasing the vacant unit and adjusting below-market rents upon turnover. Ideal for investors seeking a value-add opportunity with stable tenancy and flexible future use. make it short fro realtors one fifth ChatGPT said: Sure! Here's a condensed version of your property descriptionideal for real estate flyers, MLS, or quick email/text marketing: For Sale: 58-34 & 58-36 Catalpa Avenue Mixed-Use Investment | Asking: $3,175,000 Rare opportunity to own two attached mixed-use buildings on one lot in a prime location. Property includes 4 residential units and a 2,200 sq ft commercial space (funeral home) with a finished basement. Each building: 3 stories + finished basement Residential Units: Four 3BR/1BA apartments Commercial Tenant: $6,000/month (lease ends Jan 2026) 3 units rented at $5,550/month | 1 unit vacant Current Income: $11,550/month Potential Income: Up to $21,200/month This property offers immediate income with significant upside through leasing the vacant unit and adjusting below-market rents upon turnover. Ideal for investors seeking a value-add opportunity with stable tenancy and flexible future use.