Great Deal Alert - Triplex
Here is another off-market opportunity that someone should be taking a serious look at. It is 3 units in a non-rent-controlled area that is currently getting $3400/mo and can easily be brought up to about $4000/mo without spending very much additional money – say, no more than $10,000 to $15,000. Two of the units are in good shape and, fortunately, the one that needs the most work is the smallest, so will be a relatively small expense.
This will get you about 8% cash on cash return right now, but will balloon up to about 12% within a few months, once you spend a little money and upgrade, etc. And, it’s in an area that is turning the right way.
Let me know if you would like my help to get it.