432 4th Avenue

Investment opportunity! All 12 units are 100% occupied - currently renting for $1150 but could be raised to $1,250. Rents will be increasing on each unit to $1,150 starting April 1st, 2025. All units are 2 BR, 1 BA. New roof and sewer. Taxes are $6,000. There is space to build self-storage units or laundry area. Management fee 5%, cap rate of 7% .9 acres, space to build laundry or self-storage units. Sewer New roof Taxes- 6,000 Insurance-6-7,000 Water-$6000 All 2 bedroom, 1 full bath 950 square feet Management fee 5% Cap tate-6.7 % 12 units rent per unit-$11500-increase to $1200 in 2025 100% occupied Total expenses $25,000 The building went through remodeling last this year and had vacant units for that. Now all are rented at $1150 and will go to 1200 in 20206 Every thing renovated, roof brand new, all HVAC systems are new. everything else is new inside and out. Tenants pay electric and all units are indivudually metered, owner pays water which runs around $500 per month. All units have washer dryer hookups.