11% CAP RATE! Wholesale Cash Price: $240,000 Repairs: $10k GREAT RENTAL AREA!! 10 UNITS: 11 Parking Spaces 30,000 Sqft Lot Built 1970 NO BANKS - NO BIDDING - NOT A FORECLOSURE - NOT LISTED ON MLS TURNKEY, REHABBED 10 unit property in an excellent rental area on nearly 3/4 acres and 2 Parcels. Most units have been rehabbed, ceramic tile floors and assigned covered parking. 2 - One Bedroom/One Bath 8 - Two Bedroom/One Bath Units. All Units individually metered for electricity. Great freeway access to the I-10 and I-17 and nearby Van Buren has lots of shops, grocery and restaurants. This property Is currently bringing in total rents of $56,400 Gross income Then after projected expenses of $28,486 the amount an investor would pocket is approx $27,914 1 Bed Units Avg Rent: 450; Avg Sqft 500 - 2 Bed Units Avg Rent: 500; Avg Sqft 700 Owner pays: Water, Sewer, Trash Tenant Pays: Electric, Gas, Cable Adj. Gross Income: $56,400 Total Mth Rntl Inc: $4,700 Net Operating Exp: $28,486 Net Operating Inc: $27,914 Taxes: $5,373 yr - Ins: $7,252 yr - Water: $8,316 yr - Maint: $3,600 yr - Less Vac: 10%: $3,945 Even if you were to buy this tri-plex and resell it immediately you would still make $10,000 easily!
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