Sold $539,000 - Triplex
The units are big, they have views, they each have their own outdoor space, and there is a very good parking right next to the property. It is a good, solid, investment for the present, as well as for the future.
Here is one that I think will ‘fly under the radar’ due to it’s location – a location, however, which I have assessed to be quietly and powerfully on the rise. We are a fortunately a bit ahead of what the crowd is aware of here. And that is how it comes to be a great deal, of course. Alas, if everyone knew about what’s happening with this location they would be bidding it out the roof!
That said, here’s the deal: fix up costs will run about $15-20K per unit. Upgraded, you would have units that would rent for, approximately, $2K, $1500 and $2K. This means, all in, you are at $590K including fix-up cost. However, you are grossing $5500/mo or $66,000 per year. This means, at 25% down, a cash on cash return of about 13% per year. You might even be able to get it for a bit less than asking price, making it an even better return on investment.
The units are big, they have views, they each have their own outdoor space, and there is a very good parking right next to the property. It is a good, solid, investment for the present, as well as for the future.
