Active

$650,000

Features:
  • 9 Bedrooms
  • 3 Bathrooms
  • 2310 sq ft
Overview
  • ID: MFRT3524505
  • Bedrooms: 9
  • Bathrooms: 3
  • Size: 2310 sq ft
Property Details
Remarks
Welcome to your next income-producing investment opportunity! This property presents an exceptional chance to secure a steady return with an impressive 11% Cap Rate post-operating expenses. Comprising two units on a single lot, this investment gem offers versatility and stability. The primary unit boasts a spacious layout featuring 5 bedrooms and 3 bathrooms, while the secondary unit offers 4 bedrooms and 2 bathrooms. Currently operating under a group living model, the property is fully stabilized with a 100% occupancy rate. Each occupant enjoys the luxury of their own individual sleeping quarters equipped with a TV, promoting privacy and comfort. Common areas include well-appointed kitchen and laundry spaces, fostering a sense of community among tenants. TWO other buildings adjacent are also available for purchase-each also with a 11% cap rate. Recently renovated to the highest standards, this property exudes modern elegance and functionality. Highlights of the renovation include premium vinyl flooring, sleek stainless steel appliances, luxurious quartz countertops, glass shower enclosures, and the convenience of in-unit washer/dryer setups. Furthermore, the units come fully furnished, complete with TVs, ensuring an attractive offering for tenants seeking convenience and style. This investment opportunity is tailored for passive income seekers, with streamlined management processes in place for your peace of mind. An online booking platform facilitates tenant reservations, while an experienced management company handles all on-the-ground operations, from maintenance requests to tenant inquiries. With a robust Cap Rate of 11%, this investment is not only lucrative but also inclusive of all associated fees. From Padsplit marketing and portal expenses to on-the-ground management services, utilities (including WiFi), taxes, and insurance – everything is comprehensively covered. Don't miss out on this turnkey investment opportunity offering both exceptional returns and hassle-free management. Take advantage of the potential for long-term financial growth and schedule your viewing today!
Financial Considerations
Price:
$650,000
HOA Fee:
N/A
Tax Amount:
$4876
Price per SqFt:
$281.39
Tax Legal Description:
LAKESIDE SUB BLK 1, LOTS 6,20 AND 21 & N 1/2 OF LOTS 5 AND 22
Exterior Features
Lot Size:
16560
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
9
Bathrooms:
3
Heating:
Heat Pump
Cooling:
Mini-Split Unit(s)
Appliances:
Dryer, Range, Refrigerator, Washer
Furnished:
No
Floor:
Tile, Vinyl
Levels:
One
Additional Features
Property Sub Type:
Single Family Residence
Style:
N/A
Year Built:
1936
Construction Type:
Block
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
Southeast
Pets Allowed:
No
Special Condition:
None
Additional Features:
Other
Additional Features 2:
N/A
Map
  • Address
    4658 24TH ST N
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