Property Detail

Description

Attention agents… Look forward to showing this spacious, nearly 1/2 an acre, (8) unit garden style apartment building. Two parking spaces in front of a single-story unit with a large rear yard area. Long-term tenants with a 7 1/4% cap return and additional upside. Most of tenants pay by direct deposit balance pays to dropbox in laundry room. These rents can be picked up when emptying building owned speed Queen Laundry machines. **($157,860 income yielding a 7.25% cap return on no deferred maintenance asset)** Within the last 4 to 6 years building has been ***re-piped in PEX including new Moen fixtures, new tubs, new showers, toilets, water, heaters, shut offs, and hose bibs. ***PELLA dual glazed windows installed throughout*** Metal exterior entry doors and weatherstripping, jambs and hardware. *** raised panel interior doors with new farm style casing, baseboards, and trim. ***new closet, interiors with high low shelving and sliding mirror doors *** openable, and retractable window, blind coverings *** lockable mailboxes recently added. *** solid wood kitchen cabinets with full extension drawer glides/pantries/remodels. *** over the range microwave, dishwashers gas oven/cooktop. *** new rear metal doors with openable window or blinds that opens to recently slurry coated patio area and new wood fencing. *** electrical sub-panels upgraded, new childproof Decora plugs, GFI’s and LED fixtures. ***Exterior of building, porches, handrails, and wrought iron fencing recently painted. Entire parking lot area was recently slurry coated, and re-striped. Avocado and citrus trees are there for tenants enjoyment. >>> (the five storage containers rent for $160 per month each and the income is included in the gross scheduled income)<<<