Don’t miss this 4-plex !

 Asking Price: $239,000 or best offer

Owner Expenses
*Tenants pay all utilities*
Septic Pumps:        $25/m, $144/yr
Taxes:                             
     City     -   $1,702.74 /yr     
                County   -   $2,273.39 /yr                
         Total Tax:            $3,976.13 /yr         
Insurance:            $1454 / yr   
Total Expenses: $464.51/M

INCOME: All Tenants Current
Unit 1:                   Vacant  
Unit 2:                   Vacant  
    Unit 3:                   Delinquent  
 Unit 4:                   $550/m   
Current Income: $550/m

Property Details

This 4-Plex consists of 4, 2 bed, 2 bath Units. 1,250 sqft in each unit and are supplied with central heat and AC. This is the perfect opportunity to perform updates immediately to get units to pro forma ASAP. Units 1 and 2 are currently vacant. Unit 2 is almost completely remodeled, the tenant in unit 3 is being evicted, and unit 4 is occupied. The complex is currently tax assessed at $292,300 with room to expand to more identical units on the lot. The location was picked by the owner when he built the units right inside city limits to allow for the city trash pick up. No dumpsters for critters to get into. 

The units are identical, 1 and 3 are mirrored to 2 and 4. Unit 2 needs minor finishing touches. HVACs are older in 1, 2, and 4; unit 3 is new. The septic system on the lot has a pumping system from the city. It costs $25/month. The bedrooms are large and each unit has a master suite. The units themselves are a great size at 1250sqft each! Plenty of room for rent growth.

Repairs

The roof is original – no current leakage. The front and back decks are dated. Except for unit 2 (currently being updated by the owner), the other units need updating to achieve maximum rent.

Needs:

• new floors throughout
• kitchen and bath update
• paint and trim.

 CALL OR TEXT: 423-482-8647

for more information and to schedule a walk-through