The property consists of a 5-Plex and a 3-Plex, located at 1616, 1618, 1620, 1622, and 1624 Summer Hill. The 5-Plex offers a total of 5 units, with a combined square footage of 5,905 SqFt. The 3-Plex has 3 units, totaling 3,390 SqFt. Rent prices range from $1,250 to $1,550, depending on the unit's size and amenities, with projected annual gross income ranging between $133,500 and $148,800. The total rent collected for the property varies between $11,125 and $12,400 monthly.
Operating costs include a $21,500 tax bill, $6,276 for insurance, $5,362 for maintenance, $1,170 for management, and $200 for landscaping. Plumbing repairs on 1622 Summer Hill and a new water heater installation are also accounted for, alongside other maintenance expenses, such as bathroom repairs, microwave replacements, and painting costs for various units. A projected $450 for landscape maintenance on each unit in 2024 is included. The property's projected expenses for 2024 total approximately $33,138, with a notable repair and paint cost on unit 1624, and various ongoing costs for pest control and landscape care. With a maximum projected rent of $1,550 per unit, the property is projected to continue to generate strong rental income while managing reasonable upkeep costs.