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Old 09-28-2005, 06:26 AM
buy_income_properties
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Default Income Property for Sale! 11 Units & 3 Lots! Very Low Price!

To view the pictures of the properties, click on the link below:

http://photos.yahoo.com/bc/buy_income_properties/lst?.dir=/Income+Prop
erties+for+Sale&.view=t

To contact me about these properties, just email me.


Sincererly,


Bradley J. Martineau
BuyIncomeProperties.com
http://www.BuyIncomeProperties.com


July 9, 2002


Hello,

We are selling, as a bundled package, 5 buildings (11 units total) &
3 Lots. If you are looking for solid investment properties, you will
not find properties better than this, especially at this price. Sale
must be completed within 60 days of the sales agreement - all cash
sale or financing already in place. Asking Price is very low to
ensure quick sale.

Description of the buildings & the Lots:

** All the buildings are located in Erie, Pennsylvania.

303 Myrtle Street

Single Family House - 3 bedrooms, 1 bath, living room, dining room,
& full basement with washer & dryer hookups.
Rents for $525 per month - Long-term tenant (up to $800 per
month if rent per student)
Tenant pays all utilities including water, sewer, & trash
Taxes $600 per year

305 Myrtle Street

Lot in between 303 & 307 Myrtle
Taxes $100 per year

307 Myrtle Street

Single Family House - 3 bedrooms, 1 bath, living room,
dining room, & full basement with washer & dryer hookups
Rents for $525 per month (up to $800 per month if rent per
student)
Tenant pays for all the utilities including water, sewer, &
trash
Taxes $600 per year.

515 Myrtle Street

4-Unit Brick Apartment Building
3 1 bedroom units - $300 per month - each
1 3 bedroom unit - $400 per month (up to $800 per month if
rent per student)
Tenants pay all utilities including water, sewer, & trash
Taxes $1,300 per year
Extra storage & laundry hookups in basement

** All the Myrtle Properties are located 1 block from Gannon
University & downtown Erie. They are also within walking distance to
Lake Erie.

1101 East 11th Street

3-Unit Apartment Building
2 1 bedroom units - Rent for $300 - $325 per month each
1 3 bedroom unit - Rents for $400 per month
2 car garage - rents for $40 - $50 per month
Nice clean units in nice neighborhood. Close to downtown &
bus lines.
Taxes $800 per year

1052-1054 Pennsylvania Avenue

Big Double Lot next to 1101 Pennsylvania Avenue
Taxes $400 per year

1101 Pennsylvania Avenue

2-Unit Flat
2 2 bedroom units - Rent for $325 - $350 per month each
Laundry hookups in basement
Nice neighborhood - located on same block as 1101 East 11th Street
Taxes $600 per year


Gross Rents $4,100 per month

Expenses

Taxes $375 per month
Insurance $50 per month
Utilities None - Tenants Pay
Maintenance $250 per month
Vacancy $225 per month

Total Expenses $900 per month

Net Income $3,200


Asking Price $249,000 (Well below Market Value)

Cap. Rate 15.50% (Great Return on Your
Investment)

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