This is a legal 4 family with separate utilities. Each unit has two beds and one bath.
Tenants are month to month at $1k (well under market) and the purchase contract stipulates that they will vacate in return for cash for keys. 1 unit is vacant and 3 units are occupied - which will not be delivered vacant. The Seller has said they will all walk for $3k/unit ($9k total).
New boilers and roof. Basement is unfinished. Large enough to finish and put a fifth unit down there.
Long driveway with 2 or 3 car garage in rear.
Very quiet area w/ lots of new construction on street.
The occupied units are in pretty good shape. The vacant unit is/was under renovation. In keeping with the aesthetics of the other apartments, you will just need a little bit of material. Walls are mostly complete at this point.
See pictures/videos here: https://www.dropbox.com/sh/4njlsliw4mnvwx9/AAByZ9vCH6evfqwgehCX0-V4a?dl=0
ARV fully rehabbed is $675k-$700k, with garage. And a recent rental comp in the area is $1300/month/unit.
Adjusted Financials: Gross Rent: $62,400 ($1300 x 4 units x 12 months) Taxes: $7200 Insurance: $2000 Sewer (est) $1400 Profit: $51,800/year (11.4 cap).
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