Solid all brick six unit apartment complex located on bus line. Great cash flow for investors looking to expand their portfolio. Each unit has one bedroom with full basement and washer and dryer hook up. Units have been completely renovated. Two units rented at $750 per month and 4 units rented at 550. Per month.Monthly income-$4,410.00 @ $735.00moAnnual income -$52,920.00Monthly expense bases on a Sales price of $450,000.00x 20%=$360,000.00 loan amount =$3112.08 (PITI)=$37,345.00 per annum plus expenses and water $1,740.00 Total $40,000.00 per year in expensesIn short the NET OPERATING INCOME =$52,920.00The ANNUAL DEBT=$40,000.00An optimum debt service for the bank is 1 to 3 This apartment building is located in the heart of One Linden Community Revitalization plan.
Listing Courtesy of Stephan R Douglas of Douglas & Associates Realty, Ltd..
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