Four-family brick building, renovated in 2012. 1 unit per floor with living rm, dining rm, kitchen, 3 bdrm and 1 bthrm. Separate utilities, 4 gas burners for heat new installed in '05. Fully occupied with a gross annual rent income of $43,200 and total expenses of $11,400 netting an annual income of $31,800. Buy this as an investment property with a CAP rate of 21% (gross return on investment before leveraging any financing) or buy this building as an owner occupied property, live in one apartment yourself while renting out the other 3 units. This brings your net income to $21,000 and will leave you a positive annual cash flow after you have paid the mortgage! Across a park with a playground.
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Data last updated: Tuesday, May 21, 2013 at 8:21 PM