Large traditional, all-brick 4-plex. 4 identical units, each with 2 bedrooms and 1 bathroom. All 4 units are currently rented. Rents are currently a little low due to long-term tenants. They sit at $795, $750, $750, and $725 for a gross income of $3,020 per month. All rents will be raised to $795 by this time next year. There are also 2 coin-operated washers and 2 coin-operated dryers in the common area. These bring in an additional ~$1,000.00 per year. This could be increased as I’ve left the coin fee at $1, which is the lowest in town. Owner pays water, sanitation and sewage (roughly $200-220 per month). Tenants pay gas/electric. Unlike most of the surrounding 4-plexes, this one comes with 4 off-street parking spots. Renovations over the last 10 years I’ve owned the property include: new tile and counter tops in 2 of 4 Kitchens, new tile in 2 of 4 bathrooms, new laminate in the other 2 bathrooms, new tile in the shower in 2 of 4 units, new plumbing hardware in all 4 bathtubs, new faucet and sinks in 3 of 4 bathrooms, new faucets and sinks in 3 of 4 kitchens, new solid metal doors in all 4 units, new vinyl double-pane windows throughout about 70% of the building, a new flat roof, and more. As a bonus, under the carpet in each unit is well-preserved/restorable hard-wood flooring. Due to very good relationships with my tenants, I do not want to inconvenience them with a lot of showings. Therefore, I am limiting showings to interested investors who have first provided proof of funds and/or a letter from a bank for pre-approval of the asking amount. Call Clark if interested at (805) 757-0254. Please leave a voicemail if I’m not able to answer and I promise to get back to you later that day/evening.
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