Description
College Place Cash Cow - Across the from the university (in-class instruction started). Re-face of spaces completed & vacant for easy access. New floor coverings, paint & some new windows make this property move-in ready for tenants. Lots of flexibility as property started as a single-family home. 3-car garage in addition to 3-4 off-street parking spots. Roof is a metal tile. Income/expenses shown for 2018 reflect monthly income before improvements. Property management projects rental rates at current condition - $950 for main, $750 for 2nd story & $750 for basement - adjusts Total Monthly Income $2450, Gross Income $29 400, NOI $22 608, CAP 6%, and Gross Rent Multiplier 13%. 2019 and 2020 income/ expenses available upon request.
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