This one is priced to move and set up to be stabilized in 90 days. Leases expire 4/30/20, 4/30/20 and 3/31/20 and will continue month to month. One vacant unit available for showing. Other units are in similar condition and same layout. Rent-o-meter rent estimate at $1,300 per unit produces a 6.3% cap rate. Storage units and garage are currently rented for $185/mo combined. Rent for three occupied units is $3,440. Community laundry on lower level. Laundry could be converted to coin operated additional cash flow. Income Estimate: $1300 x 4 + 185 = $5,940 Expense Estimate (24%) = $1,425 P&I Estimate: $2,565 Annual CF: $23,400 Cash on Cash of 13% Cap Rate of 8%
Courtesy of Atlas Real Estate GroupSelling Office: Atlas Real Estate Group.
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