This investment opportunity in West Wichita appears to be promising. The condo features 3 bedrooms, 2 full baths, and a fenced yard, making it an attractive option for potential tenants. The current tenant has been in residence for almost 15 years and expresses a desire to continue renting, providing stability and consistent rental income. The rent is set at $850.00 per month, offering a reasonable return on investment. The property also has parking available, which is a convenient feature for both the tenant and potential future renters. The air conditioning system is relatively new, having been installed just 6 years ago, which suggests that it is in good working condition and may not require immediate replacement. One notable advantage is that the Homeowners Association (HOA) takes care of exterior maintenance, front yard cuts, trash removal, and snow removal. This reduces the owner's responsibility for these tasks and ensures that the property remains well-maintained. It is worth mentioning that this investment opportunity involves the sale of Unit 2 and Unit 3 together for a total price of $220,000.00. This could provide an advantage in terms of potential economies of scale and the ability to manage multiple properties in close proximity. Overall, this investment opportunity offers a combination of a long-term tenant, reasonable rental income, desirable property features, and the convenience of HOA-covered maintenance. However, it is still recommended to perform due diligence, assess the condition of the units, evaluate the local market, and consult with a real estate professional or financial advisor before making a final decision.
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