Cash Flowing 3 Unit in College Town

Investor · Member since 2020 · 3 posts · 4 votes

I have a 3 unit building in Farmington Maine with healthy cash flow and a large lot with room for expansion. This is a college town with huge demand for apartments.

Unit A: 2/1- $1000/mo

Unit B: 2/1- $1200/mo

Unit C: 3(4)/2- $1500/mo

All tenants pay their own electric and there is no house meter. Each unit has its own water heater. I pay heat on units A and B. See attached income sheet.

$300,000

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Vida Lolitaa
Member since 2024 · 23 posts · 9 votes
2y
Quote from @Ben Hitchcock:

I have a 3 unit building in Farmington Maine with healthy cash flow and a large lot with room for expansion. This is a college town with huge demand for apartments.
Unit A: 2/1- $1000/mo
Unit B: 2/1- $1200/mo
Unit C: 3(4)/2- $1500/mo
All tenants pay their own electric and there is no house meter. Each unit has its own water heater. I pay heat on units A and B. See attached income sheet.

$300,000
Hi,

So I am trying to learn how to invest in my first property, why are you trying to sell? What did you originally purchase this house for? How did you find this property? What kind of loan did you use? Did you occupy any of the units? Sorry I’m just trying to understand this whole world of investing. It’s a nice property.

Thank you
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