Listing

Property Description:

This investment opportunity is perfect for the investors who like the 1% rule - it's actually better! 3 doors on two separate parcels. 511 Sustella Avenue is a large 4 bedroom / 1 bath home filled with character that you never see in newer homes these days! Current rent here is $1100 / month but a previous Section 8 voucher leased this location for $1500/month! 522 Green Street is a two door deal - 3 bedroom one bath house in the front leased at $640 / month and a 1 / 1 detached apartment in the back leased at $600/month - both of which could be bumped to market rates! 1480 sq ft for Sustella and a combined 1596 sq ft for Green total 2500 or only $85/sf!!! Total monthly rent of $2,340 prices this deal at an 8.5% capitalization rate with 35% operating expense factor. Professional property management in place - tenants responsible for their own utilities. This 3 door package is part of a larger portfolio of 25 similar single family homes listed together as MLS # 143376 and can be bought alone or with combinations of other packages broken out of the 25 total homes listed FOR SALE. See MLS #s 144574, 144575, 144579, 144580, 144581, & 144582 for smaller packages.