Description
INVESTORS!!! Take a look at this value to add/ cash-flowing, 5plex, conveniently located minutes from downtown and Drake University. The property is fully occupied; leases are signed with a current rental certificate. A handyman living in one of the units helps with almost all maintenance, repairs, updates, and management of the property. Rents are $725, $725, $900, $725, and $900, with the tenants paying utilities (water, gas, electric) that are at $725, and tenants not paying utilities that are at $900 (all tenants are current on rent and have never had a problem). The approximate annual NOI is $36,300. Recent updates include a new roof, parking lot, sidewalk, flooring, appliances, windows, paint, and other miscellaneous items. Vacant storage space in the basement (600 SF) could be converted into an additional unit to help build additional equity/ cash flow; plumbing and electrical are already roughed in. Reach out TODAY for more detailed information regarding the finances and quality of the property.
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5BEDS
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0.17ACRES
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5BATHS
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01/2 BATHS
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7,480SQFT
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$59$/SQFT
Description
INVESTORS!!! Take a look at this value to add/ cash-flowing, 5plex, conveniently located minutes from downtown and Drake University. The property is fully occupied; leases are signed with a current rental certificate. A handyman living in one of the units helps with almost all maintenance, repairs, updates, and management of the property. Rents are $725, $725, $900, $725, and $900, with the tenants paying utilities (water, gas, electric) that are at $725, and tenants not paying utilities that are at $900 (all tenants are current on rent and have never had a problem). The approximate annual NOI is $36,300. Recent updates include a new roof, parking lot, sidewalk, flooring, appliances, windows, paint, and other miscellaneous items. Vacant storage space in the basement (600 SF) could be converted into an additional unit to help build additional equity/ cash flow; plumbing and electrical are already roughed in. Reach out TODAY for more detailed information regarding the finances and quality of the property.