THIS PROFESSIONALLY MANAGED AND VERY WELL MAINTAINED ATTACHED 3 FAMILY IS THE PERFECT OPPORTUNITY FOR THE SAVVY REAL ESTATE INVESTOR LOOKING TO INCREASE THEIR RETURN WITHOUT THE NORMAL & EXPENSIVE CAPITAL IMPROVEMENTS THAT USUALLY REQUIRES. ALL 3 UNITS ARE RENTED TO SUBSIDIZED TENANTS WITH #1 A 3 ROOM, 1 BED, 1 BATH AND #'S 2&3 BOTH 4 ROOM, 2 BED, 1 BATH UNITS. THIS PROPERTY IS BEING OFFERED AT A 6.5% CAP RATE AS IT CURRENTLY GENERATES MONTHLY INCOME OF $4,616.00 PER MONTH AND AVERAGES EXPENSES THE EQUIVALENT OF 25% PER MONTH OF THE GROSS RENTAL INCOME. HOWEVER, THE RECENT INCREASE IN RENTAL AMOUNTS FOR SUBSIDIZED TENANTS FOR 2019 PROVIDES FOR THIS BUILDING TO SEE A POTENTIAL TOTAL INCOME INCREASE OF $1,139.00 PER MONTH WITHOUT ANY WORK OR IMPROVEMENTS REQUIRED. THIS WOULD TAKE A BUILDING PURCHASED AT A 6.5% CAP RATE AND ELEVATE IT TO A BUILDING WORTH JUST UNDER EIGHT HUNDRED THOUSAND DOLLARS AT THAT SAME 6.5% CAP RATE SIMPLY THROUGH THE RENTAL INCREASE PROCESS!
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