Description
Amazing opportunity for equity and cash on cash. Owner started work but has decided to finish other projects he has backed up. Most of the electrical is completed, new plumbing, new sheetrock and framing, mechanicals are in place but does need repairs, tuck pointing completed in multiple areas of the property. Cool outdoor space that can be set up for tenant enjoyment. Contractor stated it would be around 10k a unit to finish (bring your own contractor). All in around 150k with repairs and multi families around the building are selling for a little over 200k. Rents in the four plex next door are between 650-750 with all 4 units rented. Cash flow at this price point is around $2800 month which is ROI over 22%. Refinance out and do it again. Perfect project for BRRRR! AS IS contract. No inspections by the seller nor guarantee of any work or pricing.
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0BEDS
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0.06ACRES
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01/2 BATHS
School Information
Description
Amazing opportunity for equity and cash on cash. Owner started work but has decided to finish other projects he has backed up. Most of the electrical is completed, new plumbing, new sheetrock and framing, mechanicals are in place but does need repairs, tuck pointing completed in multiple areas of the property. Cool outdoor space that can be set up for tenant enjoyment. Contractor stated it would be around 10k a unit to finish (bring your own contractor). All in around 150k with repairs and multi families around the building are selling for a little over 200k. Rents in the four plex next door are between 650-750 with all 4 units rented. Cash flow at this price point is around $2800 month which is ROI over 22%. Refinance out and do it again. Perfect project for BRRRR! AS IS contract. No inspections by the seller nor guarantee of any work or pricing.
Listing information © 2023 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2023-03-22T14:39:24.143.
Hartmann Realtors Inc.: (618) 344-7900
Listing provided courtesy of Knight And Drews: 4549942. Listing information © 2023 Mid America Regional Information Systems, Inc.