Description
UNDER MARKET RENT!! Double Digit Cap Rate Quadplex ************ LOW Operating Expenses ************SEE VIDEO TOURS ON LISTING ************BELOW AVERAGE GRM of 8.85 with a current in-place rent roll of $2825/mo $33,900/year ************Major Rehab on three of four units in 2019 ************All Tenants on Month-Month Leases ************Projected rent at $48,360/year, $4030/month 6.2 GRM AS-IS IN CURRENT CONDITION ************ -If the last unit is updated, we're talking $50,880/year in annual rental income, with a net monthly rental income of $4172/month! ************Put about 8k into that last unit to spruce it up and you're getting over 50k a year for 308k. This is one of the best offerings on the MLS on a Cash on Cash Basis. ************ -Rental Market Analysis Available in Documents ************ -Owner is a Master Electrician who takes pride in all of the hard work he's put into his property. This is his baby. Building is in great condition, he is only selling since he is looking to re-locate to a warmer climate. ************ LOW Monthly Operating Expenses are under $70! ************ -All Utilities are paid by tenants ************ -Avg. Common Area Electric Bill of 17.5 ************ -Owner has two months security from each tennant ************ -Agent can refer new buyer/investor to property management company with a 24/7 hotline for $40/unit or $160/month ************ Info on Major Re-Model of three of the four units-Owner has installed custom Common Area Lighting with Motion sensors, and outdoor photocell lights to keep electric bills low! ************ -Units have been re-wired and owner installed new electric service ************ -All Knob and Tube has been removed, the entire property has brand new Romax throughout ************ -Heating elements and thermostats have all been upgraded ************ -A/C Units have individual power lines going to them, so no calls from your tenants about the circuit breaker flipping ************ -Stucco/Brick exterior will keep this property dry for decades ************ -More Photos/Videos/Info on the way****************** Put in your offer now before this gets scooped up by another investor
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0BEDS
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0.04ACRES
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0BATHS
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01/2 BATHS
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2,080SQFT
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$144$/SQFT
Description
UNDER MARKET RENT!! Double Digit Cap Rate Quadplex ************ LOW Operating Expenses ************SEE VIDEO TOURS ON LISTING ************BELOW AVERAGE GRM of 8.85 with a current in-place rent roll of $2825/mo $33,900/year ************Major Rehab on three of four units in 2019 ************All Tenants on Month-Month Leases ************Projected rent at $48,360/year, $4030/month 6.2 GRM AS-IS IN CURRENT CONDITION ************ -If the last unit is updated, we're talking $50,880/year in annual rental income, with a net monthly rental income of $4172/month! ************Put about 8k into that last unit to spruce it up and you're getting over 50k a year for 308k. This is one of the best offerings on the MLS on a Cash on Cash Basis. ************ -Rental Market Analysis Available in Documents ************ -Owner is a Master Electrician who takes pride in all of the hard work he's put into his property. This is his baby. Building is in great condition, he is only selling since he is looking to re-locate to a warmer climate. ************ LOW Monthly Operating Expenses are under $70! ************ -All Utilities are paid by tenants ************ -Avg. Common Area Electric Bill of 17.5 ************ -Owner has two months security from each tennant ************ -Agent can refer new buyer/investor to property management company with a 24/7 hotline for $40/unit or $160/month ************ Info on Major Re-Model of three of the four units-Owner has installed custom Common Area Lighting with Motion sensors, and outdoor photocell lights to keep electric bills low! ************ -Units have been re-wired and owner installed new electric service ************ -All Knob and Tube has been removed, the entire property has brand new Romax throughout ************ -Heating elements and thermostats have all been upgraded ************ -A/C Units have individual power lines going to them, so no calls from your tenants about the circuit breaker flipping ************ -Stucco/Brick exterior will keep this property dry for decades ************ -More Photos/Videos/Info on the way****************** Put in your offer now before this gets scooped up by another investor
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