Great income producing property! This 5-unit apartment complex contains five 2 bedroom, 1.5 bath, 1180 sq. ft. units. The property has undergone extensive updates to the building. New roof, new gutters, new siding, new exterior paint, double pane windows, and central heat/air. Each unit rents for $910/mo which could easily be increased to $1,100/mo. 40% of the units have been remodeled. Owner pays for water, garbage, insurance and taxes. Net operating income is around $45k/yr putting the cap rate at 5.6%.
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