If you have been searching for a turn-key multi-family rental property, then look no further! Fully leased, block construction PAIR of Quadruplex's available for sale. Rent collections continue to be strong with 98% of June rent already received as of June 9th. One listing is for 1810 E 143rd and the other is for 1808 E 143rd. Each building consists of two, 3 bedroom 2 bathroom apartments along with two, 3 bedroom 1 bathroom apartments. High demand area keeps these units leased consistently without issue. The total of 8 units for both listings are currently leased at $7,525 gross rent per month. If purchased under cash, the ROI should be 6.5% on takeover. With minor capital investment and small rent increases, this is expected to rise to 7.7%. Leveraging is also expected to raise the return. Returns are never guaranteed and buyer should complete their own analysis. The property boasts tile and laminate floors in ground floors units with laminate and carpet in the upstairs units. Roof, windows and doors were replaced in 1810 building in 2014. Parking lot is co-owned with 3 other buildings and was repaved in 2017. Seven of the eight central AC systems have been replaced since 2014. Water is currently supplied by a single meter that services 1810, 1808 and 1806 E 143rd with each building owner responsible for 1/3rd of the monthly bill. Please DO NOT disturb tenants. Showings will be scheduled after receipt of proof of funds and acceptable offer with inspection period.
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