$123K Gross, $105K Net, 10.5% CAP, 20% Cash On Cash @ asking. The owners proudly invested over $300K+ to completely rehab & update this cash-flowing, turnkey 9-unit multi-family portfolio, including 110, 112, & 114 W Ridge. These properties have mountain views, stunning curb appeal, a brand-new facade, & a new roof. It?s located next to a brand-new St. Luke's Hospital & many other Main Street businesses. Renovations include mostly new bathrooms, flooring, kitchens, appliances, paint, refinished & new cabinets, & some granite countertops in the kitchens. The property is sold with a clear Certificate of Occupancy & new rental permits issued by the city. Other upgrades include a refinished rear deck & balconies, 25+ new windows, new electrical work, & new water heaters. There are six large 1BR/1BA units, one large 2BR/1BA unit with a deck in the rear, & one enormous, 2-story 4BR/2BA unit with a deck in the rear, plus a veteran-run, long-standing barbershop. All tenants are brand new, clean, & friendly & have 1-year leases. The property is minutes from highways & shopping & is near a police station & a church. Note: The owners love this property but live 1.5hrs away, & due to the distance, they are selling to a lucky buyer. The ownership group lists over 15 multi-family units in addition to this property. Gross projections are $140K+ with 18.8% cash on cash. The owner can fill units or will pay for 1 Month's rent if the unit is vacant at the time of sale. One seller is RE agent.
