This Turn-key Duplex has been recently renovated including windows, roof, fire escape, plumbing from the street and into the units. Electric has been updated and separated for each unit. New LVT flooring throughout, lighting, painting inside and out. Both units have their own laundry in the units, that's a huge plus for tenants. Both units occupied with 12 month leases starting 10/1 The main level unit is 2/1 with 12 mo lease in place for $1,000. The top unit has 3 beds 1-1/2 baths and is leased at $1,500/mo. Tenants pay electric and gas, owner only has water, garbage. Plenty of Off-Street Parking. Asking price on this is $260,000, That's just shy of 7.5% Cap-rate and a 9.5% Cash on cash, that's including property management, maintenance, and budgeting for CapEx, etc. ? Property Management is in place for an easy turnkey transition, or you can self-manage or bring on your own management. Directly across the street from the center of campus at Drake University. Walk-ability in this area is fantastic. 6 Blocks from Interstate 235 and less than 2 miles to Downtown. And this property is in the center of the metro, so getting anywhere is a breeze. Plenty of off-street parking.
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