Property Details

Overview

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 buildingsEach building has:Three stories + full finished basementGround 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 homeCurrent Income:Commercial Tenant (Funeral Home):$6, 000/month Lease expires January 2026Residential Units:Three units rented with a total of $5, 550/monthOne unit currently vacantTotal Current Income: $11, 550/monthPotential Rental Income:Commercial Space (Funeral Home): Estimated market rent: $8, 000/monthFour 3-Bedroom Apartments: Estimated total market rent: $13, 200/month(-$3, 300/month per unit)Total Potential Income: $21, 200/monthThis 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.