Description
The neighborhood of this offering is super nice. Mainly all single family residences with high pride of ownership.
This triplex consists of three 2 bedroom's, 1 baths. All the units have been remodeled, and are functionally roomy, and in good shape.
Within these three units, two units are occupied at month to month rents. One unit is vacant. While this vacancy is very recent, and we have a waiting list of tenant's that want in, we are purposely keeping it vacant, so the new buyer can hand pick the new tenant.
Please also note the nearby market rents in the RENT COMP document in our MARKETING PACKAGE ATTACHED IN SUPPLEMENTS. A couple doors away, a 2 bedroom's 1 bath is renting for $1,800 monthly!!!
The returns are great! Check out the ANNUAL PROPERTY OPERATING DATA in the MARKETING PACKAGE attached. At market rents, we're putting out $64,800 annual gross income, a 8.64 Gross Rent Multiplier, a 10.02% Cap Rate, and a double digit annual 21.31% cash on cash return!!!
Please note in the MARKETING PACKAGE attached, that this offering is located on a huge triple lot that is almost 3/4 of an acre!! This leaves much room to develop more units and create much more value!!!
One final note here that you've probably already noticed, THIS IS PURPOSELY PRICED FOR A QUICK SALE. Personal family health reasons of the owner is the catalyst here. Please check out a nearby COMPARABLE TRIPLEX SALE with 2 bedroom's 1 bath's, like this offering. This COMPARABLE SALE sold for $620,000!!!
NEW NOTE: There are now two units vacant! SO YOU CAN NOW IMMEDIATELY GO GET MARKET RENTS IN TWO UNITS!!!
Location
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Listing Agent: Tony Burton Courtesy of: Burton Commercial, Inc. The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 30th January, 2023 3:25 AM (UTC)
