NEW 9 Unit Package
6 UNITS IN CONTRACT. ONE 3 UNIT PROPERTY REMAINS 434-438 EMERSON- NOW DISCOUNTED
9 units total in 4 different properties Great cash flow with $103,200.00 in gross rents and a 21.20% CAP rate
All of these properties are very nice to excellent neighborhoods in Rochester NY. Consisting of many owner occupants The demographics range from working class to young professional people. These are all turnkey high end Units.
These properties have been renovated and maintained to the highest standard to insure rent-ability and low maintenance. The interiors have varying color schemes but all use paint colors from a selection of standard colors. Enabling a landlord to have crew members do quick wall touch ups at turnover. Without having to paint entire rooms. Plumbing has been replaced to insure optimum low maintenance.
These units show very well and the goal of the owner has been to have the best product in the market so he can choose the best tenants.A typical showing will result in as many as 20 applicants from which the owner selects the best. All of the current tenants are working people with good jobs with the exception of one tenant who is retired.The tenants are all good on time payers.
The houses are located relatively close together and the farthest apart houses can reached in about 10 minutes.
All of the houses are on a master key system to aid in maintenance and rent collection.
3 of these properties are in contract. one 3 unit property remains click above on 434-438 Emerson
Price per unit: 45,511.
monthly rent $8,600.00**
annual rent $103,200.00
Annual expenses: 16,353.
Net annual income $86,846.00
CAP rate 21.20%
Gross rent multiplier 3.97
** Rent amounts may not include discounts for long term tenants. Rent amounts shown do not reflect section 8 amounts which are more. See spreadsheets for more info.
Heat: 10 Gas forced air
Electrical: 9 100 amp circuit breaker
Square feet: 11,338
Lot size: varies
Break down of all apartments
1 bedroom apartments 3
3 bedroom apartments 4
4 bedroom apartments 1
5 bedroom apartments 1