Realtor · Pittsburgh, PA · Member since 2016 · 32 posts · 17 votes
Solid brick Investment property with Strong Revenues! 3 recently renovated units all 100% occupied! Many updates from this long term owner. Pride shows! Two - 2 bed 1 bath units are identical renting for 650 monthly. Shared heating with these up and down units so owner pays gas services. One - 1 bedroom unit tenant pays Gas and electric. Owner pays water services on all units. Budget billing has made this property a consistent CASH COW for this owner. GRM at 3.5; at these prices scoop this one up fast and start taking checks to the bank!
This thing is really a neat one in our market. Owner is getting a nice yield and we manage the property for him turn key. What questions can I answer for you?
i have interest in the property. Would the owner consider financing. the tenants currently month to month or yearly. have they been long term tenants or recently moved in. i reside in Florida and would need management. i would assume you would continue and at what expense? Do you have a current Pro forma for the property you could forward.
Hello Benjamin,
Can you provide details others have asked for so I may evaluate. You can also message me your thoughts on why this property is still available. Ty.
Hello Folks. Some have had PM's sent to them if you asked for a PM. Here's the gist of property current status. Property owner has dropped price to generate an offer. He had two vacancies in May which brought his revenue down to only the one unit at 650. We are currently turning those units for owner and expect to achieve the same rents. Although there is a significant influx of Oil & Gas workers who could rent these units month to month at higher rates, this owner is wanting us to rent the units as we would normally do. Owner is elderly and after many years of ownership wants to simply sell. They are not interested in financing the property; would need a cash buyer or a financed buyer. The property could go FHA if the new owner lived in one of the units. Our company could manage if the new owner would like. We charge currently 10-12 percent depending on how many units are signed up with our management company. There is a pro-forma attached to the MLS listing. You should be able to simply click the link and find the owner provided spreadsheet. If you have trouble feel free to email me and I can send you an attached copy. This is a solid property with many years of capital improvements. easy to rent and manage. Again, owner wants an offer as he is elderly and would like to sell soon. Give me a shout and we can write something up for him to look at! [email protected] Thanks.