Turn key, block two unit income producing property with room to additional income and increase your value. Main house is a large 4 bdrm 2 bath renovated block construction single family home rented for $1,100 per month. Excellent tenant with solid income, but market rent has climbed to range of $1,300 if you choose to increase the rent or replace tenant upon lease expiration. Updated in the last few years, this home has a lot of recent renovations including: new electric; HVAC (including the ducts); and interior updates. (If you google the address, the physical address for the main house is 998 22nd Ave S). In back, the second unit is 2 story block construction with a 1/1 apartment on the second floor rented for $650 per month. The units have separate electric and water meters (buyer to confirm). Unit is 621 sq ft and features 1 bedroom, 1 full bath with a kitchen, dining area, living room... so this isn't your typical 1 bdrm apartment and might be able to be made into a 2/1 in the future to increase rent to $750 or $800 per month. Roof on back building was replaced within the last few years. This large corner lot provides a large fence back yard, perfect for entertaining. The lower level of back building is currently used as storage, but it is entirely enclosed, so there's definitely potential to make this a third rental unit and add $700-800 rent per month OR without any modifications, rent out the space for storage. The going rate for a 621 sq ft storage space in this area is an additional $150+ per month you could add to your bottom line! Property currently rented for $1,750 per month, $21,000 annually.... with potential with above listed value added modifications to get to the range of $2,200, or as high as $2,600 if you can get the 3rd unit in the back building.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
