Selling Rental Portfolio

[Brian Campbell]

My wife and I are considering selling our rental properties. These properties all have tenants and are in good condition. Most properties are located in Mason City, Iowa. Here's a list of what we are selling and the price for each property. 

• 2 Bed 1 Bath ranch in a great neighborhood. Has attached garage and central air. Rents for $550. Price is 55K

• 3 bed 1 bath. Was renting for $600 but I lowered the rent to $550 because the renter is my handiman. Price is 50K

• Up/Down Duplex. One bed/one bath in a great area. One side has forced air furnace, other side has boiler. Rent is $400 up and $400 down. Price is 55K

•  Front of bldg is a beauty shop that rents for $275 (way low), then a 2 bed apt upstairs and a 2 bed apt down stairs. Apartments came with washer/dryers. Get $395 for upstairs and $350 for downstairs. Downstairs renter does the sidewalks in the winter so I lowered her rent to $350. Owner pays for water $50/mo. and garbage $85/mo. Total rent is $1,025. Great property! Price is 65K

• Smaller 2 bedroom home close to park that we did a major rehab to with new furnace. Rents for $550. Price is 40K

• Four plex. Two apts are efficiency one beds and the other two are larger one bedroom. The efficiencies rent for $400 ea and the larger apts rent for $500 each. Gross rent is $1775. One renter gets a break for mowing and shoveling. We pay $308/mo for budget Alliant, Water is around $75/mo. And garbage is $77/mo.  Price is 70K

• 3 bed/1 bath with newer (used furnace) and central air and 2 stall detached garage. Rent is $600/mo. Price is 50K

We also own and would consider selling:

a 3 bed/1.5 bath that we have sold on contract to a teacher buddy

a 3/1 that we’ve sold on contract

a 3/1 that we’ve sold on contract

a 3/1 that we’ve sold on contract

a 1/1 that we’re buying on contract

our restaurant that we have a year’s lease agreement with a small local restaurant chain.

Let us know if you have any questions.