INVESTOR SPECIAL! RARE 4-UNIT! Seller is a former real estate agent, who is not seeking representation. Gross $52,800 Expenses (water, lawn, r&m, cleaning between tenants) $5,000 Net $47,800 Cap rate 10% (if owner managed) 7.79% if managed by management company. This area is getting incredibly popular! Recent comp sold for $435,000 18 months previous with lower rent roll. Rents have increased from $650-$800 three years ago to $950-$1,200+! Rent increases show no signs of slowing. Apartments recieve multiple inquiries within 24-hours and usually rent within 48-hours. Zero vacancies for 3 years. Unit A - $950 7 year resident Unit B - $1,100 12 months remaining Unit C - $1,100 13 months remaining D - $1,250 (owner occupied, but willing to rent month-to-month upon sale). Being sold as is, where is with no improvements. Proof of funds needed with genuine offers. Seller is a former real estate agent, who is not seeking representation. Buyer's agent commission will be offered.
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