Description
This 6-Unit Auburn-Gresham property sits on a wide 35' x 125' parcel. This building is highlighted by a rare multiple brick floor to joist supporting walls. The attractive two-story property features 2, 2-bedroom, 1-bath, and 4, 1-bedroom, 1-bath rental units. Four units have similar finishes as they have each been updated over the past few years. One unit's rehab is 80% complete. One unit needs extensive bathroom and some kitchen repairs. The three remaining units need painting and minor repairs. The property is being sold As-Is. GOOD NEWS! Each unit is separately metered for gas and electric and are served by central water heaters. GREAT NEWS! Each Individual unit has its own gas forced air furnace heating system. The furnaces are 5 years old, the roof is 8 years old and the 12-year-old exterior porches are built to meet city requirements. With a projected Gross Income of $61,200 the projected NOI is $48,000 to $52,000 annualy. This is based on an $800 and $950 monthly rent collected per unit. Extra income can be generated from pay washers and dryers and/or higher rents and storage. Area Cap Rates are 9.5% to 11%.
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0BEDS
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0.1ACRES
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0BATHS
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01/2 BATHS
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5,344SQFT
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$64$/SQFT
School Ratings & Info
Description
This 6-Unit Auburn-Gresham property sits on a wide 35' x 125' parcel. This building is highlighted by a rare multiple brick floor to joist supporting walls. The attractive two-story property features 2, 2-bedroom, 1-bath, and 4, 1-bedroom, 1-bath rental units. Four units have similar finishes as they have each been updated over the past few years. One unit's rehab is 80% complete. One unit needs extensive bathroom and some kitchen repairs. The three remaining units need painting and minor repairs. The property is being sold As-Is. GOOD NEWS! Each unit is separately metered for gas and electric and are served by central water heaters. GREAT NEWS! Each Individual unit has its own gas forced air furnace heating system. The furnaces are 5 years old, the roof is 8 years old and the 12-year-old exterior porches are built to meet city requirements. With a projected Gross Income of $61,200 the projected NOI is $48,000 to $52,000 annualy. This is based on an $800 and $950 monthly rent collected per unit. Extra income can be generated from pay washers and dryers and/or higher rents and storage. Area Cap Rates are 9.5% to 11%.
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