Jumbo 3 unit - 12.5Cap Auburn/Gresham
Check out this Pre-market deal. We are finalizing our 3rd floor sec8 tenant with plans to list on the market for owner occupant buyers by early Feb. The building is in great shape with recent updates to kitchens and baths. Top two units are sec8 with tons of living space. First floor can be rented for 1200+ or an owner occupant can buy with low money down, move in and live for free. Fully rented pro-forma is at 12.5%cap. Located across from two schools and next to a new private school gym. 2nd floor tenant pays 1041/m but has been in house 25+ years (increase possible).
3 units. 1600sf each. 9beds/3ba total. total rent should be 3450/m with NOI north of 30k/yr.
Features: 3 car brick garage (more income potential), full unfinished basement with new boiler. New rear deck, 3 yr old roof, 10 yr old windows in most of house (except front facing windows on first 2 stories). Recently updated baths and kitchens.
Price subject to go up once finishing touches, additional tenant is stabilized, and professional photos are in. This is the type of rental you want. PM Me for more info