Unbelievable Duplex, Turn Key Just Collect the Rent. Unit 1 is a 3 bed unit with 2 full baths, Living Room, Dining Room, Large Kitchen and Family Room with Fireplace. Unit 2 is a 1 bed with 1 full bath. Updated Kitchen, Large Living and Dining. Front Covered and Enclosed Porch used by both tenants. Two large out buildings i fenced back yard. Long term tenants looking to stay for a long time
As for the property itself, Margo Manor is comprised of two ranch style buildings with 24 spacious two bedroom apartments. The property is outfitted with a tenant-paid, gas forced air heating system and the units are separately metered for electricity. The property was built in 1978; however, in early 2005 the previous owner replaced gutters and windows at the property. The commercial space has 4-1200 square foot units at the front of the property. Margo Manor is currently 100% occupied and management has indicated that they expect to increase rents by the end of the year as a result of an aggressive leasing campaign. Currently the street rents being charged are $500; however, it is IPO' s professional opinion that if a purchaser were to implement a unit upgrade program they would realize substantial gains through rental rate increases.