Courtesy of: Carlo Gobba, EXP Realty Main, carlo.gobba@exprealty.com
Courtesy of: Carlo Gobba, EXP Realty Main, carlo.gobba@exprealty.com
$299,900
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8 bed
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3,640 square feet
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4.00 Bath (3 Full , 1 Half)
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Lot: 0.12 Acres
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Other
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$299,900
1565 W Grand Boulevard Solid brick quadplex producing income on West Grand Boulevard. Four 2-bedroom, 1-bath units over a full basement. Three units are leased with tenants in place and the fourth is vacant, so a new owner sets that rent at today's market - the clearest upside in the building. Rents today total $2, 050/mo. With all four units at the projected market rent of $850/unit ($3, 400/mo), the projected cap rate is approx 7.2% (est. after actual taxes of $6, 283/yr, 10% vacancy, 10% management, insurance and reserves; buyer to verify). Mechanicals have been updated: newer furnaces, updated electrical boxes and PEX plumbing throughout. Photos are recent and reflect current condition. A complete investment analysis is attached to the listing documents alongside the disclosures - rent, actual taxes, insurance, management and net income on one page - so this property can be evaluated properly before writing. Tenant parking on the street in front or behind the building. Shown upon accepted offer only; please do not disturb tenants. Leases and ledgers provided during the inspection period. Cash, Conventional, FHA or VA only - no alternative financing.
Courtesy of: Carlo Gobba, EXP Realty Main, carlo.gobba@exprealty.com
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