For sale by owner
    • Price increase: $12K (8/9)
    $432,000

    Calle Simon Carlo #64, Mayaguez, PR 00681

    11beds
    6,214sqft
    : 
    MultiFamily
    Built in 1923
    -- sqft lot
    $-- Zestimate®
    $70/sqft
    $-- HOA

    What's special

    Large metal-gated backyardFull-size washing machineGlass windowsOpen layoutWater heaterThree bedroomsHigh ceilings
    Concrete 3 floor, mixed-use building of 6,214.0 sqft. The first level Commercial space A, 1,978.0 sqft, high ceilings, open layout and two half bathrooms $1,260. Commercial space B, approx. 400 sqft, currently rented as a storage, but with renovations, could be rented as commercial or residential unit for additional revenue$340. Floor 1 also has a large metal-gated backyard with a 9' tall concrete fence. Floor 2: two apts, each three bedrooms, dining/living room, walk in closet/laundry and kitchen $650 each. Floor 3: two apts; one two bedrooms $550, the other three $650. Apts. are 975+ sqft, high ceilings, hurricane shutters, glass windows, electric stove/oven, refrigerator, water heater, and full-size washing machine included in the sale. Total rent roll $4,100 monthly with growth potential. Each unit has water and power meters plus there is an additional set of meters. The off-set smaller commercial unit has separate water and power meters. Paperwork up to date, clean title, is in good shape, recently renovated and sold AS-IS. This is a passive income-producing property generating $4,100 monthly, $49,200 a year.
    What the owner loves about this home
    Current sales price of $432,000, with solid valuations. Example: $4,100 monthly, $49,200 annual - 30% expenses (including annual insurance $4,194.00 and property taxes $2,464.32 etc.= $14,760) = NOI $34,440 at 7.97% Cap. Rate = $432,000= $59.62 sqft, which is less than half the median market. Other valuation methodologies place the property at $469,872.58 or more. The building is excellently located within walking distance to the University of Puerto Rico, the city center, restaurants, hospitals, banks, dry cleaners, and others. It is also a short drive (less than 30 minutes) to the Cabo Rojo's calm Caribbean beaches and seafood restaurants and a close drive to world famous surfing in Rincon, Aguada, Aguadilla. Also 30 minutes to Aguadilla International Airport and Ponce International Airport is 45 minutes to 1 hour’s drive.
    185 days
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    1,165
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    64
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