Fondy - Rooming House - Cash Cow - 14 BRs - Rents $5860/m

Fond du Lac County, Fond du Lac, WI, 54935
Sold
Listed at: April 23rd, 2024
Price
$235,000
Sq. Footage
4532
Type
Multifamily
Parking
Driveway
Year build
1880
Lot size
0.19 acres
Bedrooms
13
Bathrooms
3
Half Bathrooms
0
Summary

I have this Property Under Contract.

This is a Rooming House with 12 Bedrooms and 1 apartment in Fond du lac WI.

 

Features:

  • 12 Rooms Individually Rented out.
  • 1 2 bedroom apartment
  • Current Rents = $5860/month
  • 1 Gas Meter
  • 1 Boiler (only 5 years old)  and one Furnace ( 2 years old)
  • 1 Electric Meter
  • Upgraded Electric Panel
  • 1 Large Parking Lot 
  • Equipped with Cameras
  • Coin Operated Washer and Dryer
  • Has on on site MGR(5 yrs) that helps with people, building, rent and problems. 

 

Numbers: PMT=1862/m 15% down 25 yr am 7.5% interest 1000 ins 2500 taxes

Mortgage line incluses Taxes and Insurance - But Run your Own numbers.

97 Forest Ave -  
 CurrentProjected
Apt 1 -900900
Room 1420465
Room 2440465
Room 3440465
Room 4440465
Room 5400465
Room 6400465
Room 7400465
Room 8400465
Room 9380465
room 10400465
Room 11400465
Room 12440465
Net Income58606480
   
Expenses  
Mortgage18621892
Utilities(water)300300
elec & gas696696
Vac 8%468468
Repairs 8%=$400  
Insurance  
Taxes  
Total Expenses33263356
   
Net Income25343124

 

 

 

 

 

Cash and Hard Money Loans Will be looked at First. 

Commercial Loan Acceptable.  No Residential Financing Loans.

All Offers Will be As-Is.

Must Provide Pre-Approval Letter and Proof of Funds No Exceptions.

No - Walk Throughs. 

 

WHAT TO EXPECT FROM Brendan Piper:  PROPERTY WILL BE CONVEYED WITH FREE AND CLEAR MARKETABLE TITLE UNLESS OTHERWISE AGREED. NO INSPECTION PERIODS EXCEPT WHAT IS NOTED ABOVE.

 

 BUYER MUST DO THEIR OWN DUE DILIGENCE. HOUSE IS BEING SOLD " AS-IS" WITH NO WARRANTIES OR DISCLOSURES FROM THE SELLER. 

 

 BUYER TO PAY ALL CLOSING COSTS AND TRANSFER TAXES WITH THE EXCEPTION OF ANY PRORATED PROPERTY TAXES, LIENS, AND JUDGMENTS UNLESS OTHERWISE AGREED TO IN WRITING BY BOTH PARTIES.

 

 THE INFORMATION IS PROVIDED AS A COURTESY AND NOT MEANT FOR THE PURPOSES OF MARKETING THIS HOME DISCLAIMER: Please be advised that this is an assignment of contract. A legally binding purchase agreement has been signed with the Seller, which grants exclusive rights to this company to purchase the property.

We would like to clarify that we are not representatives of the owner and do not act as brokers.

DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or communicate with the owner will result in legal action.

Videos

Exterior Video

Upstairs Video Hallway

Shared Bathroom Video

2 Bedroom Apartment Video

Basement Video

Lower Hallway Video and shared bathroom

Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Brendan R Piper

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Disposition manager