Selling House That Is Occupied w/ Tenants
I have a two family in the Boston area. My wife and I have been considering selling it. Both units are currently rented. I wonder--is there a good way to try and sell a house with tenants? I don't want to list it and have them move out. Do some investors buy sight unseen based on cap rates?
And as for the house --it's in Quincy--south of Boston --walking distance to public transportation --right in Quincy Center--there is a major development under way.
Current Rents $39.3K a year (probably a bit low still)
Taxes/Insurance $11K a year
Water Sewer $1200 a year
I've never had a vacancy in 10+ years but accounting for 5% vacancy
this gets to NOI of $25.1K per Year
Asking Price: $630K.
Cap Rate = 4%