Amazing Real Estate Investment opportunity! If you are interested in investing in real estate, both apartment buildings offer more than $90,000 income per year and each has good rental history as well. Rent for each unit has been between $650 to $700 with 90 -100% occupancy. Cap rate is around 9% and return of investment within 5 years would be around 18%. There is one section 8 unit and 4 tenants have been there more than 8 years. Each building has 6 units, each with their own deed. Each unit also has a separate water meter, gas, and common area electric meter. There is a total of 12 units, 6 in each building. Each unit is a 2-bedroom, 1 bathroom, and each has a laundry in the unit. Most units have hardwood flooring and all units have been updated in last 3 years.Each water heater and HVAC systems have been replaced, maintained and serviced as needed. Windows were replaced within the last 5 years and both roofs are less than 5 years old. There is ample parking space around both buildings.
County Water, Electric, Fuel:Natural, City Sewer, City Water
Weichert Realtors - ABG Properties
|Price Reduced from $614,000 to $600,000|
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|Price Reduced from $699,000 to $690,000|
More about 3105 Springfield
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Listing information last updated on August 18th, 2019 at 9:00am EDT.