5 unit investment property, 6.8% CAP rate
Located between Trader Joes and Alabama hill off (not on) Alabama street. Very stable and reliable situation. Solid and well maintained house.
gross yearly income: $72456
all yearly operating expenses: (repairs, insurance, utilities, taxes and fees): $11663
net yearly income: $60843
cap rate @ 900k = 6.8%
All units but one are in excellent shape and need no repairs or upgrades. One unit will need new painting and capeting and minor upgrades after the tenants move out. All units received new water heaters within the last 16 months. Well maintained property inside out. Outdoor area. Large parking lot. U-shaped complex. Vinyl siding. All tenants have been there several years and all of them have an outstanding record of paying on time. All tenants have a one year lease.
Asphalt shingle roof
To my knowledge, the house needs no repair and it is well maintained.
all units have washer and dryer. 2 units are 2 bedroom, 3 are 1 bedroom units
plenty of parking inside the property
a) No viewing of individual units until after an offer has been made (to reduce disruption to my tenants). However, once there is serious interest I will disclose the street address.
b) I am not using a agent and I am paying a flat fee of $ 8000 to the buyer’s agent
c) buyer and seller will share all costs, including title fees, transfer taxes and all cost, except for inspection, which it he buyer’s obligation.
d) Whatcom title as the closing agent
f) I will not owner finance
g) please only contact me if you either have the funds or are pre-approved for a loan in the amount
Agent Commission Available
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