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