2 6-UNIT APARTMENT BUILDINGS - Great investment with low operating expenses Two very well maintained, solid brick 6-plex buildings with excellent rental history, priced to sell. At $515,000, the per unit cost is investor friendly at only $42,916. Rents average $517/month and are currently below market leaving room for immediate increased income. Gross return on investment is 15%. Tenants pay heat, air, water, and sewer so owner expenses remain extremely affordable, not to mention Grant County’s ultra-low property tax rate. Vacancy rate has been impressively low even during the 2008 economic downturn, and demand continues to increase especially with the Ark opening this July in nearby Williamstown – a short 15 minute drive a way. Buildings are located in nice residential neighborhood, with easy access to I-75. All units are 2 bed/1bath with private balcony or patio, newer all-electric appliances including dishwasher, electric heat and air (Trane), washer/dryer hookups and ceiling fans throughout. All units have newer hot water heaters and more than half have newer carpet, bath and kitchen floors. Units are clean, meticulously maintained and upstairs apartments boast spacious cathedral ceilings.
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