Eight unit apartment building. Current Gross income is $75,420 per year. Nets $50K+. Where else can you get a 10.5% CAP Rate to start? Gross income can easily be increased another $10,000 per year with minor upgrades. Fully occupied. Four apartments have just been painted, new kitchen cabinets and appliances installed. One 2 bed, three 1 beds, four studios. Apt #6 is a 1 bed, rent is $750. Apt #7 is a studio, rent is $675. Apt #8 is a 1 bed, rent is $895. Landlord pays all utilities. Landlord has a full last month rent and security deposit for four tenants. All tenants are current with their rent. One car garage is currently vacant and could be rented for additional income. SELLER WILL ACCEPT ANY TYPE OR CONDITION OF PROPERTY AS PARTIAL PAYMENT TOWARDS THE PURCHASE OF THIS PROPERTY. See attached expenses.
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