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Great opportunity to own a turnkey twenty-two (22) unit apartment complex. The asset consists of four (4) income producing properties that collectively consist of: Ten (10) two bedrooms / one bath units. Twelve (12) one bedrooms / one bath units. The property was built in 1970 and the units were REMODELED in 2013. Net income can be significantly increased by selectively investing in capital improvements, reducing operating cost, managing the property and increasing rents. There are twenty-six (26) parking spaces, utilities are separately metered and tenants pay their own utilities.
Concrete construction. Unit A leased; Unit B on market to be leased. 2-Unit duplex with separate water AND electric meters for low ownership cost. Clear title, ready to close. Cost Analysis Performed as Rental Property In: Rent - $10,200.00 Out: (Annual) Actual Taxes - $409.00 (Annual) Estimated Insurance - $844.00 (Annual) Property Management (Optional) - $864.00 (Annual) Estimated Utilities/Lawn/Vac - $600.00 Total Costs - $2,717.00 Net: $7,483.00 Earn: Total yearly net equates to - $7,483.00 Total monthly gross equates to - $850.00
Partially tenant occupied; with full occupancy this investment property will gross an 11% ROI. Mobile home next to apartment complex included in sale and is tenant occupied at this time, it is a 3BR/1BA. Apartment building includes 4 units; one is 2BR/1BA, the other three are 1BR/1BA. Shed structure behind the apartment complex is also included in the sale.