Fantastic value-add opportunity to own this turnkey 16-unit with 16 garages. Incredibly well-kept and managed properties. (5) 1BR units, (9) 2BR units, (2) 3BR units, 16 garages rented at $65/garage. 6 coin-op washers and dryers. Four of the 2BRs have private laundry rooms. New roofs on building and garages. Seller expenses only at 20% due to self-managing. Assuming 35% expenses and increasing to market rents, property nearly an 8% cap! Market rents 100% occupied show $18,430/mo in gross rents.
Seller financing/Owner financing on 1022 Grandview also available! With full-price offer for 1021 Grandview seller would also lease-option 16-unit at 1022 Grandview(8 garages) at an option price of $1,675,000, $100,000 option fee and 6% interest-only for 24 months. Market rents 100% occupied show $16,500/mo in gross rents.