Property manager is working on getting new leases for all tenants
Property is occupied, do not disturb
3 separate builings on 1 lot. The lot is 1/3 of an acre
Each unit is 408sqft of living area, 1/1 each unit
Property was just foreclosed and none of the tenants are currently paying rent, however they want to stay and the new owner needs to go in and redirect rent payments.
6 electric meters, 1 water meter
Each unit should rent on average of $500 a month which means $3,000 a month when up and running.
Needs work, but tenants want to stay.
Proforma: Gross $43,200 at $600 a unit fixed up. Net: $31,445 (expenses, $4,000 taxes, $2,500 insurance, $3,600 water, 5% for vacancy)