Property Description

Income-producing investment portfolio consisting of two properties across three parcels with six current month-to-month leases. The single-family residence is rented by the room under four leases at $900, $700, $700 and $700 per month, while the duplex is leased at $1,300 per side. Total scheduled gross rent is $5,600 per month, with seller-reported net operating income of approximately $3,500 per month, or $42,000 annually, after operating expenses. Based on the $525,000 asking price, the property offers an approximate 8% cap rate. The month-to-month leases provide flexibility and may be converted to long-term leases by agreement with the tenants. This corner-lot assemblage also includes an additional vacant parcel that may offer future development potential, subject to zoning, permitting and governmental approvals. Excellent opportunity for immediate income with room for future growth..

Property Features