Rarely does an opportunity like this happen! 12 units for under $500k? The property does need some work but refurbished units will be renting for $425 for a 1 bedroom and $525 for a 2 bed. 12 units currently (6 are occupied) and expandable to 15 - 17! Mostly 1 bedroom (some 2 bedroom) several are in the process of renovation. Floor joists are being replaced in some rooms (see pictures) along with new subfloor and flooring. Some of the renovation will be complete prior to the new owner taking over. This was a retirement home in its prior life and for any multifamily investor this means one thing...Limited ADA issues! Ramps up to doors, wide doors and hallways. That alone makes this renovation far easier than any other you could attempt. Several of the heat / AC units were recently upgraded. 2 year old metal roof, over $250k invested in the last 2 years. This could be the perfect property to buy with your 401k or IRA! Water and cable currently paid by the owner electric and gas are separate.
Bathrooms: 0.00
Price: $400,000
For more information about this property, please contact Rich Melton at 913-207-7152 or rich@crownrealty.com. You can also text 6871504 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).
See more listings at: RichSells4you.com
MLS ID: 2322797
No comments:
Post a Comment