Amazing 7 Unit Multifamily Jewel Available! New Roof and New Impact Windows, 100% occupied with long term tenants since the owner purchased the building and updated. The unit mix consists of 3 2/1's , 3 1/1's and 1 large studio. Easy rent collection and Seller also easily self manages the property. The Current Gross Income is $123,600. There is room to increase the rents and the Projected Gross Income will be $147,000. Annual Expenses are $29,463 which include Property Taxes:$19543, Water/Sewer:$3600, Insurance $5000, Lawn $720, Exterior Electric $600. Apartment electricity is metered separately and paid by Tenants. Current 6.5% cap, ProForma 8% cap. Seller has done all the hard work for the new Buyer! Collect Income right away with no work needed. Cash Cow!!
Amazing 7 Unit Multifamily Jewel Available! New Roof and New Impact Windows, 100% occupied with long term tenants since the owner purchased the building and updated. The unit mix consists of 3 2/1's , 3 1/1's and 1 large studio. Easy rent collection and Seller also easily self manages the property. The Current Gross Income is $123,600. There is room to increase the rents and the Projected Gross Income will be $147,000. Annual Expenses are $29,463 which include Property Taxes:$19543, Water/Sewer:$3600, Insurance $5000, Lawn $720, Exterior Electric $600. Apartment electricity is metered separately and paid by Tenants. Current 6.5% cap, ProForma 8% cap. Seller has done all the hard work for the new Buyer! Collect Income right away with no work needed. Cash Cow!!
Features
Building and Construction
Exterior Features: Balcony
Flooring: Ceramic Tile, Tile
Roof: Concrete
Utilities
Cooling: Other
Heating: Separate Meters, Other
Sewer: Public Sewer
Utilities: Cable Available
Finance and Tax Information
Home Owners Association Fee Includes: Hot Water, Sewer, Trash, Water
Tax Year: 2024
Other Features
Legal Description: FAIRVIEW AMENDED PLAT 10-25 B LOT 12, 13 BLK 15, TOG WITH POR OF ALLEY VACATED PER OR 4703/835
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