Two story income producing duplex in Wheatly Heights
Layout:
- 1st floor- 3 bedrooms 1 bath 970Sq ft. (This unit has already been rehabbed and is available)
- 2nd floor- 3 bedrooms 1 bath 970 Sq ft. (This unit has a tenant paying $890. This unit needs to be updated to get higher rent)
Average rental per unit $1200 each. (COMPS IN PICTURES)
TOTAL OF a potential $2400 in rental producing income.
Highlights:
- Building is in great shape. 4-sided brick building
- Great layout with 3 bedrooms in each unit. Very desirable.
- It does have washer and dryer in back of building.
- First floor is already remodeled. 2nd floor has a current tenant. The lease is coming up so that you can remodel and increase rent. Current rent on 2nd floor is 890.
- It does have two meters.
- Large parking driveway labeled for each tenant.
- Good size yard.
Rehab:
- I do feel a shift in the back of building. Could be within tolerance. I would budget for that.
- 2nd floor does need to be upgraded to get best ROI. I will get updated pictures this wknd. But I wouldn’t spend more than 8-10k for paint, carpet, refinishing restroom tub and painting kitchen cabinets. (Rent Ready)
- Also, a privacy fence so that tenants have outside space available and more privacy. Goes a long way.
Sale price: 189k
Rehab: 25k
ARV: 260k
This is a great option to get into the rental space. Call or text me to get access to the building.
Edgar 210-612-6887