Located in the Beautiful Scenic North East Iowa Community of Elgin, Iowa at 405 Washington Street. This Investment Has its Own Private Cul de Sac Community Setting. It Consists of a Set of 5 Super Well Kept Single Story Brick Buildings that were Constructed Originally in 1981 by One of the Area’s Premier Contractors. This Well Kept Investment Sports a Solid Occupancy Rate; All Brand New Roofs in 2013; And the Following Features: Gross Rent Potential $7,376.00 Monthly Running Approximately a 10% Vacancy Rate Water and Sewer and Garbage Pickup Furnished Running Approx. $595.00 Monthly All Brick Buildings Blacktop Parking Lot Quiet and Private Residential Location Furnishing Some Electric w/ Total Monthly Costs Approx. $333.34 Insurance $2,240 a yr. All New Roofs ’13 1 Community Room Gazebo Common Area Outside 2 Coin Op Washer/Dryer Sets Producing Approx. $1800 a Yr. Very Good Condition In & Out Court Yard Parking Lot w/ Designated Parking Spots All Rental Units are Equipped with Ranges, and Frigs Produces a Historically Sound 7% Return on Investment Taxes: Approximately $6,600.00 a Year for the Set If You Are Looking for a Sure Thing in an Investment, This is It. The Structures Were All Built Up to Full FHA Standards and Have Been Super Well Kept Ever Since. I am Truly Impressed with the Condition of these Properties. This is a Once in a Lifetime Opportunity. We Are Asking $840,000.00 for the Package
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