Turnkey Multi Family -- 26% Cap Rate!
Turnkey Multi-Family Property with tenants available for $70k in Greensburg, PA -- walking distance from Seton Hill University. Great location provides for many grad school tenants. Cap rate of 26%.
4 bedroom 1.5 bath house + detached garage with 2 bedroom apartment above it.
This turnkey property grosses $1,800/month in rents. Washer & dryer are also in the unit. Both units were updated 6 years ago, no rehab needed. Roof is 2 years old, furnace is 6 years old. Only work needed is perhaps new carpet in one bedroom and paint (if tenants ever move out).
Priced at $70,000, cash only. This truly is a great deal that comes with tenants!
Landlord pays for water and sewage ($45/month); Tenants pay for their own gas, electric, and rubbage. Tenants handle grass and snow removal. Great property management company referrals available upon request!
Cap Rate details: Net operating income is $18,087 ($1,800/mo rent - $2,091 taxes - $870 insurance - $552 utilities) / $70,000 sales price = 26% Cap rate. This doesn't take into account maintenance. It doesn't take into account vacancies because this multi family is always filled quickly with the University there.
Pictures here: http://p.reiblackbook.com/p2/photos/130304
Call Helen today at: 724-916-5005 for more information or email me at: [email protected]