Updated over 8 years ago on . Most recent reply
Fully Rented Aurora 4-Unit: 11% Cap | 16% Cap Proforma
This beautiful corner lot 4-unit is fully rented with off street parking. It is located in a quiet family neighborhood. The two lower units have two bedrooms, and the two upper units have one bedroom. Each unit has separate gas and electric meter, refrigerator and stove. The upper units are currently rented for $595 and the lower units rent for $725-$750. The rents are below market and utility costs could be decreased by eliminating the dumpster and requiring that the tenants establish accounts with Republic Service. Market rent is $950 for the lower units, and $800 for the upper units resulting in a 16%+ cap rate. Eventually will need new roof but currently needs just cosmetic touch ups.