09/02/2019
2 Cash flow Multifamily properties. Located in Covington, Ky - Across from booming Cincinnati, OH and Newport, Ky - This is an area of revitalization from investors, City programs and incentives, local owner and neighborhood buy in for improvements. We are offering 2 assignment contracts for purchase.
Both properties are updated professionally, very well maintained by 3rd generation family property investors. These homes are thoughtfully updated with the extra steps completed. New roofing, new electrical, new insulation, new kitchens, new plumbing, , new mechanical and appliances, restored hardwood flooring, maintained historical features and charm inside.
Property 1 ๐๐: Red Brick Duplex. Purchase Contract assignment for sale. $120,000
Gross Rental Income: $1,350/month fully occupied.
Apartment 1: $500/m 1bed, 1 bath, 2 private entrances, porch in front, covered patio and fully fenced yard in rear. Potential for 2nd bed in current living room. Market Rent: $650 +/-
Apartment 2: $850/m 3 bed, 2 bath. Tall ceilings, 2 floors, large living room, office/bonus room.
This property has all new windows, new roof, all new electric, new plumbing, new mechanical systems, counter laundry, full basement (unfinished but very dry) with plenty of storage. Current rent for Apartment 1 could be increased for greater cashflow without any additional capital investment. Tenants pay gas, electric. Owner pays water, sewer, garbage disposal. Pest free, clean, safe units.
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Property 2 ๐๐๐: Cream Vinyl Triplex. Purchase Contract assignment for sale. $125,000
Gross Rental Income: $1,500/mo
Apartment Rents: 2 bed - $700/mo. There are two 1 bedroom units @ $400/mo. One unit will be vacant by time of closing. Roof is being repair professionally this week for a leak reported by tenant. Property nicely updated and ready to rent 100% for cash flow. All maintenance items have been performed meticulously. Pest free, clean, safe units.
Disclosure:
These properties are not listed for sale on any MLS system. We are offering these assignment contracts for sale only. Please do not disturb tenants or owner/landlord, all questions please be directed to myself or my team members. Property Title work is ordered as of Friday 8/9/19.
Call or txt me @ 305.548.9392 for fastest and best response!