Own this cash flowing Duplex with only $28k down. Each side is a 2/1. One side is rented for $700/month and other side is vacant.
Terms:
- This is an owner financing deal.
- $28,000 down
- Seller will carry $100,000 as a position 1 note.
- Monthly payments will be 7% interest only for 4 years
- Buyer will also be responsible for taxes & insurance.
Or you can buy outright for $128,000.
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Details:
This is for a quick cash sale and you will need to close quickly.
- Duplex – Each side is a 2/1
- Total size 1454sf
- Lot size 8,337sf
- 1 side is rented for $700/month
- other side is vacant
- Owner pays utilities (water, sewer, trash) but this can be changed
- New roof 3-4 years ago
- Has working swamp coolers
- Ceramic tile throughout
Repairs Needed:
- One bedroom ceiling has small water damage spot from before roof was replaced. See picture below.
- I would upgrade the swamp coolers to HVAC’s if I was keeping this, but it’s not a necessity since the swamp coolers work.
- The units are metered separately for water, but the owner combined the units outside so he can include the water into the rent to make sure it gets paid. This will be easy to fix since it is located outside the house.
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Numbers & Comps:
Wholesale “Cash” Price: $130,000
Retail Value: $187,000 to $192,000
This is a “Cash” only sale price.
Comps- This property is hard to comp because there are no other duplexes nearby. However, similar sized SFR houses nearby are selling for $129 to $132 per s.f. That values this property between $187,000 to $192,000.
* Wholesale Price is with Buyer paying closing costs. Taxes are prorated.
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How To Gain Access
We are in escrow to purchase and are reselling for a profit. DO NOT BOTHER TENANT! You will need to pay a $3,000 EMD to view this property. The EMD will be fully refundable until after the inspection. Call with any questions at 602-299-0448.
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Pictures:
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How To Buy
Our properties sell extremely fast and are sold on a first come, first serve basis. If you are interested and would like to put this property under contract, call David at 602-299-0448.
