ISU University Area 4-Plex


Purchase Price: $115,000

(not including closing costs)

University Area 4-Plex

3 Units are Studio Apartments

1 Unit is a one-bedroom

1700 Sq Feet Total

Year built: 1925

0.25 acre lot

New Metal Roof (replaced 1 year ago). Brick. Off-street parking. Solid Rental history with few vacancies. Property management company Real Property Management currently in place. Property is in good condition.

Current Monthly Rents Total: $1275

Separate unit monthly rents as follows:

Unit 1: $275

Unit 2: $325

Unit 3: $350

Unit 4: $325

*Rents are slightly low. Possibility of raising rents $25 - $75 per unit.

3 Units have electric heat. 1 has a gas furnace.

Current Owner Expenses:

Electricity on 2 units

Sewer/Trash/Water

Current Tenant Expenses:

Other 2 units pay for electricity

Gas

2014 Taxes: $2192