Description
This 4,691 square feet 9-bedroom 4-bathroom 0.83-acre lot renovated home is ideal for an investor. The property has complete privacy, is fully fenced, gated, and on a dead-end street in a quiet neighborhood. The home has hardwood and tile floor and the only carpet is on the stairs. The property has two separate addresses, two mailboxes, concrete driveways and parking for 10+ cars, and no HOA. The home is turnkey for an investor as it is currently rented to three separate tenants with sufficient security deposit and good rental income. Please do not disturb the tenants. Showing may be arranged with an acceptable offer with proof of funds/mortgage pre-approval.
As an investor, you earn $60,000 in gross annual rental income (which translates to a 10% gross cap rate). As a further upside, the property has 468 square feet shed which after renovation can be rented to another tenant for an additional $8,400 in annual rental income, increasing the equity value by $85,000 for the new buyer.
The 1908 unit has a separate entrance and separate parking and mailbox and has 3 bedrooms, one bathroom, and kitchen cum living room. The 1910 first floor unit has a large eat in kitchen, extra-large living cum family room with fireplace, 3 large bedrooms, 1 medium bedroom, 2 bathrooms, laundry room, and plenty of closets. The second-floor unit has a separate entrance, parking, mailbox and 2 bedrooms and 1 bathroom, living room, kitchen, and attic for storage.
$75,000 worth of updates have been made to the home since 2022 including new HVAC system, new appliances (dishwasher, washer and dryer, refrigerators, stoves, microwaves, window ACs, heaters, fan, etc.), new water heater, four bathroom and three kitchen upgrades, drywall, painting, new doors, landscaping, tree trimming, new shed roof, miscellaneous plumbing, and electrical.