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8br - 5000ft2 - 5-Unit Apartment Building-Investor!
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Property Description |
What's sexy?
Almost 50% net cash-on-cash return. All the heavy lifting and light touches have been done to this recently renovated building. And with an on-site property manager, this is a solid turn-key investment property with almost $5k/mo. rent. All signed leases.
Renovated, fully de-leaded, all-separated utilities, 5-unit, 10 bedroom apartment building with off-street parking for 5+ cars is for sale in Leominster.
Rent roll:
1-bedroom $835
1-bedroom $750
2-bedroom $1,035
2-bedroom $910
3-4 bedroom $1050
Coin op laundry $200
Total monthly income: $4780
Monthly expenses
Mortgage/interest $1105 (based on $62.5k), 25% of $249,900 purchase price)
Insurance $250
House utilities $50
Taxes $415
Water $200
Garbage $120
Maintenance $50
Total expenses $2190
Plus a huge bonus basement that was once an apartment.
Total: 10 bedrooms and 5 bathrooms.
Wood floors, built-ins, most windows replaced, newly tiled kitchens and most baths, electric, plumbing and heating upgrades, off-street parking, vinyl siding, coin-op washer/dryer. A true turn-key investment with on-site property manager makes this a solid income producing property.
Property grosses over $55k/yr.
Don't wait. If it doesn't sell thru CL, I'm going to list with a realtor this spring for $300k!
do NOT contact me with unsolicited services or offers |
| Listing Status: |
For Sale |
| Property Type: |
Apartment Buildings |
| Price($): |
249900 |
| Street Address: |
mechanic street |
| City: |
Leominster |
| Region: |
Massachusetts |
| ZIP/Postal Code: |
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| Bedrooms: |
8 |
| Bathrooms: |
5 |
| Stories: |
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| Square Feet: |
5000 |
| Lot Size: |
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| Year Built: |
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| Owner Finance: |
No |
| Cap Rate: |
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| Net Operating Income: |
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| Price Per Square Foot: |
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