3 family income property being offered at a reduced price! Currently, 2 apartments are rented to long term tenants. The 3rd apartment is currently vacant and needs new painting, kitchen, flooring, lighting fixtures, and clean up the bathroom, will need to be brought back up to code and inspected before occupancy. Tenants pay all utilities. The current rent roll is $725 per month. Once the third unit is fixed up the total new rent roll, as it was prior, reaches a minimum of $1,250 per month ($525 for the third unit per month). The cash on cash return on this property is between 35%-40% net. This is a great opportunity for an existing investor or a new investor who is looking for a low entry cost investment property. This property will not last!!! Please submit your offers!!!
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.
