5 unit investment property, 6.8% CAP rate
7 BR, 5 BA
five-plex investment property, 6.8% CAP rate Located between Trader Joes and Alabama hill off (not on) Alabama street. Very stable and reliable situation. Solid and well maintained house. Figures: gross yearly income: $72456all yearly operating expenses: (repairs, insurance, utilities, taxes and fees): $11663net yearly income: $60843cap rate @ 900k = 6.8%Other details: All units but one are in terrific shape and need no repairs or upgrades. building with one units will need new painting and capeting and minor upgrades after the tenants move out. All units received new water heaters within the last sixteen months. Well maintained property inside out. Outdoor area. Large parking lot. U-shaped complex. Vinyl siding. All tenants have been there several years and all of them have an outstanding record of paying on time. All tenants have a 1 year lease. Asphalt shingle roofvinyl siding To my knowledge, the house needs no repair and it is well maintained. all units have washer dryer. 2 units are 2 bedrooms, 3 are 1 bedrooms unitsplenty of parking inside the property My terms: a) No viewing of individual units until after an offer has been made (to reduce disruption to my tenants). However, once there is serious interest I will disclose the street address. b) I am not using a agent and I am paying a flat fee of $ 8000 to the buyers agentc) buyer and seller will share all costs, including title fees, transfer taxes and all cost, except for inspection, which it he buyers obligation. d) Whatcom title as the closing agentf) I will not owner financeg) please only contact me if you either have the funds or are pre-approved for a loan in the amount
Multi-Family Residences for Sale
2,500 sq. ft.
For sale by:
January 16 on ListedBuy