Who else wants to be a millionaire? When was the last time you could take advantage of buying a property with creative financing! Better yet, are you already a cash millionaire! This one property with a realistic potential cap rate of 10% and possibly higher may be your ticket to a financial windfall and a wealthy retirement. You do the math: Twelve two bedroom approx. 875 square foot units at $1,350 each per month and the tenants pay utilities gives you $194,400 income per year. At a very low and realistic net income of $138,240 times a cap rate of 10% makes this property worth $1,382,400. With properties today selling at 5% cap rates, this one property all by itself could be worth $2,764,800. Doesn’t that make you a millionaire? For a more detailed information package contact Listing Agent. (id:47423)
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Ownership Type
Freehold
Property Type
Multi-family
Transaction Type
For sale
Zoning Description
RES
Building
Constructed Date
1978
Cooling Type
None
Exterior Finish
Brick, Stucco
Flooring Type
Other
Heating Fuel
Electric
Stories Total
2
Type
Multi-Family
Rooms
Room
Level
Dimensions
Notes
4pc Bathroom
Second level
Measurements not available
Laundry room
Second level
Measurements not available
Bedroom
Second level
Measurements not available
Bedroom
Second level
Measurements not available
2pc Bathroom
Main level
Measurements not available
Dining room
Main level
Measurements not available
Kitchen
Main level
Measurements not available
Living room
Main level
Measurements not available
Parking Spaces
Name
Spaces
Other
12
Land
Total Size
165.98 ft x 152.73 ft x 169.11 ft x 152.39 ft
Size of Irregular Land
165.98 ft x 152.73 ft x 169.11 ft x 152.39 ft
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