Great investment opportunity. Excellent rental location on west side with great freeway, university and downtown access. Stable neighborhood. Large site affords ample off-street parking along with four single car garages. Ideal for owner-user. Live in one and have other three pay for mortgage. Also note very favorable owner-occupied rates and low down payment. Excellent conventional financing still available with 20% down. Rates lowest in 40 years. Separate utility meters. Tenants pay all utilities including trash, water and sewer. Rents do not reflect potential income. Market rate for these unit in in area of $475 - $500 per month. A littler TLC is needed to make this property an ideal retirement investment or home for the motivated buyer. Seller indicates that all rents have been stabilized at $500 per month, per unit. Indicated GRM is 8.1 while the Cap Rate(based on 40% op/exp and vacancy) is 7.4%; and in line with 4-plex sales over the past 14 months.
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