518 N Ohio Ave

Description

This 3,763 square feet 10-bedroom 3 bathroom renovated home (new flooring, new water heaters, new electrical breakers, new bathroom cabinets, new doors, new paint, etc.) has 4,788 square feet under roof and is ideal for an investor or a home owner. It is a duplex with two separate addresses, two mailboxes, separate parking for both units, and is in a quiet neighborhood with no HOA. The home is turnkey for an investor as it is currently rented to two separate tenants with sufficient security deposit and good rental income. As an investor, you earn $52,800 in gross annual rental income (which translates to a 11% gross cap rate). The 518 N Ohio Ave. unit has 6 bedrooms and 2 bathrooms, has high ceilings and an open floor plan. The first floor has a large kitchen, extra-large living room, dining room, 2 large bedrooms, 1 bathroom, 2 open porches, and plenty of closets. The second floor has three large and one medium bedroom with 1-bathroom, large walk-in closet and attic for storage. This unit is ideal for an owner to live in and rent the other unit to pay off the mortgage. The other unit at 704 W Magnolia St, has a separate entrance and separate parking and mailbox and has 4 bedrooms, one bathroom, kitchen, living room, hallway, and porch. $50,000 worth of updates have been made to the home in 2021 and 2022 including two new HVAC systems, new supply plumbing, new appliances (dishwasher, refrigerator, and microwave), new electrical breakers, bathroom and kitchen upgrades, painting, and miscellaneous. Schedule a Showing Today.