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Four Unit Apartment For Sale in Cincinnati, Ohio
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Property Description |
The fully-rented four unit building for sale in Cincinnati, Ohio. the property consists of 2 buildings, 4 units, and is fully occupied and generating $1350 each month in gross rent income. The units are a 3 bed-1 bath, a 2/1, and two 1/1s. The respective rents are $500, $300, $275 and $275 per unit.
Each tenant is signed to a one year lease through May of 2008. We had an appraisal done near the end of August in which the property appraised at $80K, including a rent-roll evaluation that determined our rents were nearly $300 less than market rate for our area.
The property was completely renovated between February-April of this year, and we are only selling it to devote the proceeds to another property we have in another state (although we remain in Ohio for our other rentals).
The owner costs per month work out like this: Property Tax ($80/month), Insurance ($77/month), Water- owner pays ($85/month total), and mortgage ($440/month at 8%/30yr/60K principle). There are no common areas or utilities for the owner to pay, so this list is total. With monthly costs of $682 and gross of $1350, the positive cash flow is $668. |
| Contact person: |
Joe Thomas |
| Seller Type: |
PrivateOwner |
| Phone: |
916-812-8478 |
| Email: |
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| Web Link: |
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| Listing Status: |
For Sale |
| Property Type: |
Fourplex |
| Price($): |
75,000 |
| Street Address: |
The address is 1348 Byrd Ave |
| City: |
Cincinnati |
| Region: |
Ohio |
| ZIP/Postal Code: |
45215 |
| Bedrooms: |
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| Bathrooms: |
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| Stories: |
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| 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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