Description
OPPORTUNITY ZONE! 7 unit apartment complex for sale. Currently listed at a 5.9cap with only 4 of the 7 units occupied. Property is set up as follows: Units one - four are a fourplex style building with two units upstairs, two units down stairs. The two units downstairs are 65% complete on the remodel, before they can be leased out. Units five - seven are cottage units and do not share walls or roofs. Unit 5 and 7 are occupied and remodeled. Unit 6 is vacant and not remodeled. All occupied units are rented out at $925 to 975 a month. Fair market rent is $1000 a month per unit. All current leases are 12 month leases, New leases are being signed dec 1st. All four current residents desire to stay. Tenants pay their own power bills. Tenants pay a $35 fee monthly for water, sewer, and trash.
Directions: 11th Ave North, West side of Street
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7BEDS
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0.29ACRES
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0BATHS
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01/2 BATHS
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2,978SQFT
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$0$/SQFT
School Ratings & Info
Courtesy of Fathom Realty.Description
OPPORTUNITY ZONE! 7 unit apartment complex for sale. Currently listed at a 5.9cap with only 4 of the 7 units occupied. Property is set up as follows: Units one - four are a fourplex style building with two units upstairs, two units down stairs. The two units downstairs are 65% complete on the remodel, before they can be leased out. Units five - seven are cottage units and do not share walls or roofs. Unit 5 and 7 are occupied and remodeled. Unit 6 is vacant and not remodeled. All occupied units are rented out at $925 to 975 a month. Fair market rent is $1000 a month per unit. All current leases are 12 month leases, New leases are being signed dec 1st. All four current residents desire to stay. Tenants pay their own power bills. Tenants pay a $35 fee monthly for water, sewer, and trash.
Directions: 11th Ave North, West side of Street
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