Turnkey Properties
Property Overview
- Property Type: 2-FAMILY HOME
- 2 Units: 2 Bed
- 2,022 Sqft
- 1 Bath Each
- 1 Garage
Additional Information
- Cap Rate: 7%
- Current Rent: $1,850
- Cash on Cash Return: 5.32%
- Current Status: Vacant
- Lease Term: -
- Utilities: Tenant Pays Gas & Electric
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Renovations
Major Renovations:
– Fully painted interior
– Refinished hardwood flooring – Full sand, 3 coats of stain and polyurethane
– New kitchen
– New custom cabinets (cabinets in UP unit were preserved & restored due to condition & style)
– Granite countertops
– LVP flooring
– Stainless steel sink, faucet, dishwasher
– New bathroom
– New custom tile surround
– Plumbing valves/fixtures, faucets, toilet
– New vanity
– New exhaust fans
– Custom open shelving
– New interior and exterior light fixtures
– Stabilized foundation with installation of 10 steel columns/posts
– New hardware, lock change, on interior and exterior doors
– Landscaped, including removing all overgrowth, mulching, edging and grading of soil for proper water intrusion prevention
– New switches and outlets
– New basement glass block windows
– New concrete driveway, service walk and patio
– New posts for rear balcony
– Front balcony and rear balcony flooring replaced
– Fully painted exterior – with two-tone color scheme
– New stainless steel appliances in down unit (stove/range, microwave, dishwasher, fridge)
– New drywall in kitchen & bathrooms
– New electrical in kitchen & bathrooms
– New hot water heaters (2)
– New furnaces (2)
– New plumbing drain lines from 2nd floor to basement (bathroom and kitchen plumbing drain lines)
– New garage doors (2)
– New roof on house & garage (full tear off included)
– New interior and exterior light fixtures – mostly LED lights were installed
– New interior ceiling fans installed
– New laundry tubs (2)
– Updated 100amp electrical panels and exterior service/masts
– Repairs to garage siding, soffits and gutters
– Installation of code conforming handrails, smoke/CO detectors, gas lines, lock sets, etc
– Fully furnished lower unit for STR purposes
Pro Forma
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Property Management
Buying Options
Cash and most financing (including DSCR, SDIRA, etc.). Referrals for lenders available upon request.
$1,000 seller credit toward interest rate buy down.
