Residential Income

In early 2021, this quadplex received a brand new roof, 4 brand new electrical panels, updated plumbing & 4 brand new central AC units. Unit 4 is completely remodeled (new kitchen cabinets, quartz countertops, new stove, new dishwasher, new bathtub, new vanity). All floors are tiled except unit 2 has carpet. One unit is currently earning $1650, the other units are paying $1500, $1450 & $1400. The projected income ($1650 rent per unit - $12,567 for taxes & insurance (see attached tax return)) is $66,633 which is more than a 7.8% CAP rate. 3 units have long term renters & one unit should be rented at $1800 beginning 02/01/2023. (2 tenants are month to month and 2 tenants' leases expire in December 2022 & February 2023). Priced to sell & only showing with a signed contract.