Neighborhood: South City, Mcdermotts Grand Ave Add/dutchtown
Attention investors looking for immediate cashflow, with a 9.49% cap rate based on as-is market rents of $525, PLUS loads of upside to increase rents further through unit updates! Priced to sell at under $170k! Building would benefit from some systems updates and cosmetic updates, and priced accordingly. Fully rented, below market rents, all tenants on MTM leases so rent improvements can be quickly implemented. Pitched shingle roof replaced in 2005 with 25 year warranty, New soffit, fascia, gutters/downspouts in 2013, chimney tuckpointing/flashing in 2019, all 13 front windows replaced in 2021. Units are 1 bedroom with 3 large closets (2 are walk-in), hardwood floors, original trim, stained glass, spacious room sizes. Poured concrete foundation. Large shaded back yard and no neighbors across the street! block is a mix of 4 family, 2 family and single family homes. No bid deadline to frustrate your buyers on this one - just bring your qualified buyers, show it and sell it!!!
Courtesy of: RE/MAX Results Copyright 2021, Mid America Regional Information Systems, Inc.(MARIS). All rights reserved. Mid America Regional Info Systems does not display the entire IDX database of Mid America Regional Information Systems, Inc. (MARIS MLS) on this web site. Property listings of some REALTOR® brokerage firms have been excluded. Listings displaying the MARIS logo are courtesy of the participants of Mid America Regional Information Systems Internet Data Exchange. Information provided deemed to be reliable but is not guaranteed to be accurate. Buyers are advised to verify all facts before making a decision on purchasing a property. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Mid America Regional information Systems, Inc. (MARIS) will not be held responsibility for the content of such records.
For ADA assistance, please email firstname.lastname@example.org. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information you seek through an alternate communication method.