INVESTORS â HAVE WE GOT A DEAL FOR YOU!!!!! How about a 17% CAP Rate with tenant and lease already in place. This totally rehabbed 4 bedroom, 1457 square foot colonial is located near Petosky-Otsego and Virginia Park. The large living room has a bay window and fireplace, a formal dining room, an updated kitchen with all new cabinets, updated full bath. All new carpet, paint, fixtures, doors, moldings and all new mechanicals including electrical, plumbing, furnace, and hot water heater. The current tenant is on a one-year lease with $1250/month rent plus utilities being paid by a local neighborhood organization. Thatâs $15,000/year in Gross Rent. Seller is in process of getting City certs. BTVAI.
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