Description
5 INCOME DUPLEX with 10 TOTAL UNITS, almost 2 ACRES OF LAND, in the GREAT COMMUNITY of FOREST PINE ESTATES! This profitable rental property is fully leased and will have raised rent rates on January 1st, 2023. All units have a Range, Refrigerator, and Microwave along with central air conditioning. Tenants are responsible for electricity, general maintenance, and water. Three of the five duplexes were built in 2015. Even more, the two duplexes built in 1985 have newer METAL ROOFS plus the vacant land behind the 2 duplexes is cleared and is perfectly buildable land. Both properties are in excellent condition with city water, but NO CITY TAXES. The property is close to great schools, and near town with the best shopping and entertainment that Arcadia has to offer. A full breakdown of property tax, insurance, and income is attached to the listing! This property currently has almost a 6% cap rate. New Rent Rates in 2023 have been agreed upon by tenants and will have a new cap rate of almost 8%. This is a PHENOMENAL INVESTMENT OPPORTUNITY! Schedule your showing today!
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0BEDS
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1.96ACRES
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0BATHS
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01/2 BATHS
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1,875SQFT
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$1,280$/SQFT
School Information
Description
5 INCOME DUPLEX with 10 TOTAL UNITS, almost 2 ACRES OF LAND, in the GREAT COMMUNITY of FOREST PINE ESTATES! This profitable rental property is fully leased and will have raised rent rates on January 1st, 2023. All units have a Range, Refrigerator, and Microwave along with central air conditioning. Tenants are responsible for electricity, general maintenance, and water. Three of the five duplexes were built in 2015. Even more, the two duplexes built in 1985 have newer METAL ROOFS plus the vacant land behind the 2 duplexes is cleared and is perfectly buildable land. Both properties are in excellent condition with city water, but NO CITY TAXES. The property is close to great schools, and near town with the best shopping and entertainment that Arcadia has to offer. A full breakdown of property tax, insurance, and income is attached to the listing! This property currently has almost a 6% cap rate. New Rent Rates in 2023 have been agreed upon by tenants and will have a new cap rate of almost 8%. This is a PHENOMENAL INVESTMENT OPPORTUNITY! Schedule your showing today!
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