Details
Investors, listen up! This multi-family property is practically screaming, "Buy me!" Enjoy immediate income generation, low maintenance costs, and the freedom to make leasing changes on the fly. Ready to take the leap? Property Highlights • Four expansive 1-bedroom, 1-bathroom units offering above-average square footage. • On-site coin-operated laundry facility for added income and tenant convenience. • Recent upgrades include glass block windows, flat roofing, and an exterior basement door. Recent Updates • Efficient 91% furnaces recently installed. • 50-gallon hot water tank added in 2021. • Sewer line to the road replaced last year. • Garage doors renewed within the last five years. Financials • Potential Annual Gross Income: $31,200 • Estimated Net Income: $25,256.26 • Cap Rate: 11.23% • GRM: 6.78 Strategic Flexibility • All units are currently month-to-month, affording the new owner the flexibility to adjust rents or make other changes immediately. Low Operational Costs • Annual Gas: $2,230 • Annual Electric (Owner’s Share): $495 • Annual Water: $1,140 • Monthly Trash: $456/year • Annual Insurance: $728 • Annual Property Taxes: $894.74 Coin operated laundry does about $800 a year. All 3 garage stalls are rented. Don’t miss this chance to secure a robust income-generating asset with substantial growth potential. Contact me to arrange a private tour.