Property Description

$9,000 rent per month lease back (triple net NNN) with a full price offer (all cash or 1031 exchange) is available. With normal operating expenses this investment has a Cap Rate of 6.41%, which is much higher than the normal CAP rate range of 4 to 5% for this type of investment. Net Operating Income (NOI) is estimated at $83,370. The GRM is 12.0. The HOA monthly dues are $265 for each unit; the benefits to the owner are: no fire insurance expense, no utility bills, no landscape/gardener bills, no pool service bills, no grounds maintenance expenses, no laundry room maintenance, no roof expenses, no building maintenance expenses, no patrol service expenses, no trash removal expenses, no exterior plumbing expenses, no exterior electrical expenses. Since the HOA takes care of all exterior maintenance and repair problems this investment takes very little time to manage. All three units are tenant occupied with Apartment Association formatted leases that protect the lessor. The 59 photographs include 16 exterior and 43 interior photos. The three Units have almost the same floor plan, so the 43 interior photos represent all three Units. All three units have 972 sq feet of living area, 2 bedrooms, 2 bathrooms, a laundry room between the kitchen and main bathroom, a very large family room open to the dining area and kitchen, and garage parking. Two of the units have fireplaces. There are no vacancies nearby with all these features; the rare inclusion of both a laundry room and garage parking with each unit makes it very easy to find new tenants when a tenant does leave. 2115 Broden St. is an ideal investment for an investor who wants zero management responsibilities. Price just reduced for a quick sale. Priced @ $93k under recently closed sale of adjoining similar building ! Inquire for further details ! Seller will discount for an all cash quick close offer !

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Property Details