Take another look at this investment opportunity. Back on the market. Cap Rate calculation of over 11!!! Gross current annual income of $146,539; Total Operating Expenses of $72,033 actual for 2019. Net Operating Income (NOI) of $74,720.00 The two buildings are on one lot on one deed, There is a total of 14 units. The City Assessment is based on a combined tax card with the two building with 14 units on a half acre lot. Plenty of parking. Professional managed. Buildings are 100% occupied with written leases in place. The heat is included in rents. All the units were converted from tenant controlled thermostat to landlord controlled... (the attached income and expense sheet are complete and easy to read. Includes actual expenses for calendar year 2019 and 1st quarter 2020 numbers. The income calculation are based on current lease income with over 50% of the rental income government subsidized.)
Rod Clermont, RE/MAX Innovative Properties.
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Listing information last updated on May 26th, 2020 at 8:21am EDT.