Description
PRICE CUT 2.9M to 2.75M on 10/11. Address is 2315-2329 Willow Pass and 19-37 Washington St - main parking lot on 19Washington St. Priced at CURRENT 6.13% cap.Great unit mix 1 Three-bed, 5 Two-bed, 3 One-bed, 3 studios. high rents/ unit; low expenses. Comparable Owner's listing 83 solano ave Bay Point sold for $2,675,000 (largely studios and 1 bed); here the gross profit is slightly higher. CAPITAL IMPROVEMENTS DONE: NEW ROOFS, NEW DUAL PANE WINDOWS, NEW SIDING ON MOST UNITS, NEW PAINT EXTERIOR AND INTERIOR, NEW LANDSCAPING, 2 UNITS EVEN HAVE NEW FOUNDATION, 11 OF THE 12 INTERIORS UPGRADED. High CURRENT CAP RATE 6.13% and yet little improvements or Repair/maintenance to do and hardly any utility bills to pay (water paid by tenants). Current Rent is ~$19500/month; ~$234000/year. SEE OM ATTACHED. All leases are done in last ~2 year with HIGH SECURITY DEPOSITS providing security on tenant performance and careful documentation of leases - TO MAKE MANAGEMENT OF COMPLEX, EASIER AND TURNKEY.
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01/2 BATHS
School Ratings & Info
Description
PRICE CUT 2.9M to 2.75M on 10/11. Address is 2315-2329 Willow Pass and 19-37 Washington St - main parking lot on 19Washington St. Priced at CURRENT 6.13% cap.Great unit mix 1 Three-bed, 5 Two-bed, 3 One-bed, 3 studios. high rents/ unit; low expenses. Comparable Owner's listing 83 solano ave Bay Point sold for $2,675,000 (largely studios and 1 bed); here the gross profit is slightly higher. CAPITAL IMPROVEMENTS DONE: NEW ROOFS, NEW DUAL PANE WINDOWS, NEW SIDING ON MOST UNITS, NEW PAINT EXTERIOR AND INTERIOR, NEW LANDSCAPING, 2 UNITS EVEN HAVE NEW FOUNDATION, 11 OF THE 12 INTERIORS UPGRADED. High CURRENT CAP RATE 6.13% and yet little improvements or Repair/maintenance to do and hardly any utility bills to pay (water paid by tenants). Current Rent is ~$19500/month; ~$234000/year. SEE OM ATTACHED. All leases are done in last ~2 year with HIGH SECURITY DEPOSITS providing security on tenant performance and careful documentation of leases - TO MAKE MANAGEMENT OF COMPLEX, EASIER AND TURNKEY.
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Listing provided courtesy of Sandeep Gupta of Sandeep Gupta, Broker.