Unbeatable cash flowing building with seller finance available at unbeatable interest rates******
Seller can offer owner finance at 4.25%, interest only payment with 25% down yielding a monthly payment of only $9296. Rate locked in for 3 years then increases 2% a year until it reaches 10 percent on the sixth year***
Current total gross rents is $17,600,,, property taxes $2488.... Monthly insurance $1069,net income monthly $4746, tenants pay utilities...
All tenants have a one year lease that end in July 2025 and are interested in renewing for 3 years which can be executed prior or after the completion of the sale -------------------------------------------------
Most units have existing potential to be updated from the current set up of 8 units/10 bedrooms to become 18 single efficiency units which can increase the rents drastically to potentially up to 24,000. Blue prints and additional info can be provided-----------------------------
The building is located in the University Neighborhood Outlay (UNO) , allowing a tear down and a rebuild at much higher limits and redevelopment to increase the cap rate. building is located at Corner of 25th St and Rio Grande St which is one of two streets that allows for commercial storefront on ground level.