6 always-rented good units on Penn!!
Units:
- (4) 2BR/1BA; (2) 1BR/1BA
- spacious, handsome layouts
- NO pets
- W/D hookups in 3 separate basements
- all tenants have 1 parking spot in the building’s lot
- *ON* the busline
- walkable; x-central
Stringent tenant screening:
- criminal check
- credit check
- application fee+security deposits collected
- A+ rental references
- no evictions or landlord-tenant complaints/filings
- must be able to put the utilities in their names
- tenants pay ALL utilities [minus the common areas]:
- water
- electric
- gas
Specs:
- rents: $3,442 total; M2M
- 550+625+560+640+530+537
- zoned: Apartments
- $750K Insurance: $1,698/year
- elec+plumbing.: updated
- roof: flat; NeW
- kitchens+baths: decent / in good shape
- GOI: $41,304
- NOI: ≈$27k-$30k
- active CAP: 10½%
- Taxes: $5,923
- Electric: Updated
- Plumbing: Updated
- Kitchen: Decent (all)
- Bath: OK (all)
- Roof: NeW; flat
- Furnace: ~15 yrs old (all)
- Hot Water Tank: Mixed / ages vary
- Windows: Single-paned; older
- (4) 2 BR/1 BA; (2) 1 BR/1 BA
- Floors: 2
- Parking: Off-street (6-space parking lot)
- Rental Income: $3,442/mo + ALL utilities