Fully Updated and Renovated!
9.44 to 9.7% CAP Rate!
(Exterior Painted Neutral Light Brown)
Location: Next to Historic Downtown Glendale & Glendale Community College
Duplex: Two 550 square foot units share 1 wall. Each unit has: 1 bedroom, 1 bathroom, a kitchen, living room, mailbox and parking space. Tenants share a Newer Storage Shed.
The following are BRAND NEW: Kitchens, Bathrooms, Lighting, Paint (inside and out), Locked Gate, Flooring, Appliances, Dual Pane Windows, 2 A/C units per Apartment, Ceiling Fans, Landscape and Insulation! Must see, this will sell fast!
Tenants pay their own Electric bills. Water/Sewer/Trash bill paid to landlord, $65/mo. due on the 1st with rent, additional cash flow. (Leases say if tenants’ portion of bill exceeds $65 they must reimburse owner the difference.)
100% leased up as of September 7, 2017 with professionally screened tenants. 1 year leases expire October 2018.
1,100 Total Livable Square Feet (550sf/unit) + 100 Sq. Ft. Locked Storage Shed. Roof: Sheet metal and wood, brand new insulation.
4,050 Square Foot Lot (.09 acres), Built in 1945
2 Parking Slabs (room to add a carport)
$655 and $670/unit/month, $17,500 Gross Annual cash flow!
Owner’s Annual Expenses: Taxes $418, Insurance $600, Maintenance/Home Warranty $500, City of Glendale annual estimate $948= $1,366 Total
Net Annual CASH FLOW: $16,134 (owning real estate rentals is a Tax Shelter, write-off depreciation for 27.5 years)
Buy with cash, private loan or conventional financing. No owner finance, lease option, or similar.