Great Deal Alert $580,000 - Duplex
OK, this one is actually really good. First of all, as Boyle Hts goes, this is in one of the best possible locations for Boyle Hts. It is one block from Mariachi Plaza and also a metro stop. And, assuming one can successfully negotiate with the tenants (which appears very likely,) it pencils out very well as follows:
Between paying a modest commission to me, relocation fees to tenants, and renovating the units, one will end up at somewhere between $150K and $175K on top of the $580K purchase price. This totals $750K or less. However, at the end of that one will have two units that will produce a total of $6000/mo income! This represents a monthly cash flow, after mortgage, property tax, insurance, utilities, etc,, of about $1800/mo, or $21,600 annually, or a whopping 11.5% cash on cash return.
Just so you know, we have agreement from the seller that negotiations can take place with tenants during the physical inspection contingency period so there is no risk involved there. Anyway, if you want this one let me know and I will be happy to help you get it.