Property Detail

Description

Price reduction for a quick sale. This great valued six-unit apartment property featuring spacious 2-bedroom and 1-bathroom units surrounded by lush greenery and mature landscaping. Amenities include an on-site coin-operated laundry room, six covered carports, and additional conveniences. The lower units offer both front and rear private entrances for added accessibility and appeal. It also features 6 carports. The vacant unit needs work. Seller says let's sell as-is. This property also presents strong upside rental potential, with projected market rents exceeding $2,000 per unit, according to current market trends. Don't miss this income property for only $1,395,000. Information: Five units are currently occupied. Current residential rent is $8,160 per month, and the projected rent for the vacant unit is $2,000 per month. Fully occupied residential rent would be $10,160 per month. Including $120 per month in laundry income, fully occupied gross income would be $10,280 per month, or $123,360 annually. Income / Operating Summary: • Gross Scheduled Income: $123,360.00 The 5.40% cap rate is based on the $75,333.29 NOI divided by the $1,395,000 asking price. Athough information comes from a reliable resources, Buyer and agents (Listing and Selling) do not warrant their information, which includes, but not limited to square footage and boundary lines. Thank you for your interest in this beautiful property.