287-293 S Hoyt Street offers investors the opportunity to acquire a well-maintained 4-unit apartment building ideally situated in the heart of Lakewood, just under two miles from the vibrant Belmar shopping district, with convenient access to Kipling and Alameda.
Constructed in 1981, the property features four spacious, townhome-style units, each thoughtfully laid out across three levels and ranging from approximately 1,388 to 1,522 square feet. Each unit offers an identical floorplan:
• Garden Level: Includes a walk-out patio, one bedroom, a full bathroom, and in-unit laundry
• Main Floor: Open-concept kitchen and living area, plus patio
• Top Floor: Two bedrooms and a full bathroom
One of the four units has been recently renovated with modern finishes throughout, including new flooring, a fully updated kitchen, and remodeled bathrooms — representing approximately $30,000 in capital improvements.
Building is separately metered for electricity and heated via a boiler system. Property is governed by an HOA that covers water, sewer, gas, trash, and common area maintenance.
This is an excellent opportunity to acquire a stable, low maintenance asset north of a 6% CAP rate with upside.
