Passive income investment property with low rents and future income potential. Currently 100% occupied, and vacancies last only a few days. ten units are up and down townhomes in three seperate buildings on 1.5 acres, 2 bedroom, 1 bath homes. Gross rents at current Rent roll equal $55,800/year. Cap rate with no management company currently listed at 7.9% for 2021 numbers, and a net operating income of $30,500. Future income potential. 9 out of 10 units have been renovated since 2017, and capital expenditures have been paid for electrical power panel, plumbing drainage lines, and base board heaters replaced in 2017. Most leases are now month to month. Tenant pays electrical (other than basement meter), and Landlord pays water and trash. Units do not have washer dryer hook up; A/C provided by tenants via window units.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
