This fixer upper three unit apartment building (triplex) has one 3-bedroom unit and two 1-bedroom units. The units are all-electric and I only pay for water and sewer. I just bought the property recently but I have other rehab projects that I am working on so I decided to sell it as-is at a cheap wholesale price for cash. Although all three units are rented, this handyman special is eventually going to need some siding repair, a new roof in a few years, some windows and other repairs. Because of the deferred maintenance, the units are all rented far under market value. The 3-bedroom unit is currently rented for $400/month and the two 1-bedroom units are currently rented at $325/month for a total of $1050/month. Fixed up, the 3-bedroom unit will rent for $800/month and the two 1-bedroom units will rent for $600/month for a total of $2000/month. This building has a lot of potential and would be a great rental property today and an excellent real estate investment for the future if you decide to hold on to it for a few years before selling it. If/when the units become vacant, each will need painting, carpeting, vinyl flooring, kitchen and bath updates and miscellaneous cosmetic repairs. As you can see in the pictures, there is work that needs to be done but it doesn't all have to be done at once. Although I'm a motivated seller, I'm not a tired landlord nor am I in a must sell situation. Unfortunately, I cannot offer seller financing like a lease option, rent to own, land contract or no money down deal. Also, this is not a property for wholesaling because I am only accepting all cash offers (no financing) and I don't do assignment agreements. However, I might be willing to co-op with a Realtor on a full price cash offer. Speaking of cash, I might be a little negotiable on the price if you can close in a week or less, but I won't reply to low ball offers since I have positive cash flow each month. Even though the building needs some TLC to bring it back to its former glory, it is in a great location and would be an excellent buy and hold property or fix and flip investment because of the growth and renovations going on in the neighborhoods around Nationwide Children's Hospital including German Village, Schumacher Place, Merion Village, Southern Orchards, Vassor Village, Old Oaks and Driving Park. IMPORTANT: RESEARCH THE AREA, PULL YOUR OWN COMPS, TALK TO REALTORS AND DO YOUR DUE DILIGENCE! This is a neighborhood seeing significant renovations thanks to the 8900 jobs at Nationwide Children's Hospital. Don't miss your chance to buy a fixer upper multi unit at a significant discount. This property is virtually guaranteed to go up in value over the next two to three years as real estate prices keep increasing and more houses are being renovated in this area. Please drive by the property first to check out the exterior condition and see the neighborhood. Please do not knock on the doors or disturb the tenants. If you like what you see from the outside, please call or text Ron anytime at 614-741-5123 with questions or to schedule an appointment.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
