Great Deal Alert $395,000 - Triplex
It has two units in the rear that have rent control tenants .
Here is a good triplex deal that ‘pencils out’ that I believe will ‘fly under the radar.’ It currently has two offers, but neither one is the seller too excited about (I don’t know how much they are).
It has two units in the rear that have rent control tenants that are only paying $550 each. However, the front 3 bed 1.5 bath fully renovated unit is being delivered vacant and, from all appearances, is in move-in condition. I actually went and saw it in person and can show it to you anytime.
I have the rent for this unit at $2100. That means a total of $3200/mo income, or $38,400 per annum. At 25% down, including closing costs, at this price I have this property at 11.4% cash on cash return, and in a pretty upside location too. Try matching that (or even coming close to that) on Wall St, or just about anywhere else for that matter!
Let me know if you are interested and I’ll help you out.