Income Producing Rental Property, 2 Duplexs

Bradenton, FL (Manatee County)

Income Producing Rental Property, 2 Duplexs
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Asking Price: $424,900

Cash Flow: $37,276

Gross Revenue: $45,600

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: $424,900

Established: 1993

Income Producing Rental Property, 2 Duplexs

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Business Description

Income Producing Dublex Property

Income producing Two Duplex's rental, (4 units of 650 sq.ft. each) located on the same lot. This property has produced a substantial income for the landlord for over 25 years with a zero vacancy rate. Each rental has an attached carport and laundry room with storage. All unites are in good condition and fully rented making this a great investment opportunity. Each unit has two bedrooms, a bath, living room and fully equipped kitchen. all leases are for one year with some month to month extensions. These units are never vacant for more than a day or two when a tenant leaves. This is a high demand area for renters. The income shown on these unites could be substantially increased using the Section 8 housing program, which is currently paying between $1,300 to $1,500 per month per unit.
Through the ownership tenure, there have been numerous updates to each unit to including but not limited to; roofs, air conditioning, tile and laminate floors, appliances, sinks and vanities, stools, plumbing fixtures, painting and continuous outdoor maintenance. There is a large yard for all unites. This is a terrific opportunity to acquire a stabilized and strong income producing multifamily asset with above average income. Cap rate 8.8%

Detailed Information

Location:
Bradenton, FL
Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
2,600
Employees:
1
Facilities:
Two duplex's (4 units of approx 650 sq.ft. each) located on the same lot of over 1/3 acre in a high demand rental area in the fast growing Bradenton, FL area. Includes all individual AC unites, appliances and fixtures. Built in 1970. (Home Based)
Reason for Selling:
retiring
Home-Based:
This business is Home-Based
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Mark Gallagher

Business Listed By:
Mark Gallagher

Florida Capital Business Brokers

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