This home is part of a package of 38 single family homes. Offered at $2,175,500 which is an average of $57,250 per door. Avg rents are $867/mo. Mainly Sec 8 leases with an estimated 10%+ cap rate. 29 of the leases are Section 8 - in addition to the regular payments from the government, Section 8 properties typically go through annual inspections to help keep them in good repair. There are 6 market tenants and 3 vacancies although the owners have recently taken deposits on 2 new Sec 8 leases (which would put you at 31 Sec 8 total). Approximately 18 tenants are being charged back for sewer. None of the properties are in a flood zone or on septic. 14 of the properties have asbestos siding. (This siding can be covered with new siding and does not need to be removed.) 5 properties are located in Berkeley and have been grandfathered in to continue as rental properties. This property is available for showings but is leased and tenant will be moving in soon. See docs section for more details.
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