A truly hands off investment! 11 years left on a 15 year lease. However the new owner can take back the property Sept 1st 2025.
Purchase Subject to existing lease.
Tenant pays all utilities, insurance, all routine maintenance, and all repairs up to $1,500 per occurrence.
Has leased solar panels paid for by tenant in the lease.
This is a Beautiful property in a great, upscale neighborhood. 6 Bedroom / 5 bathroom home.
Lease is currently $5,306 per month, in Sept it goes up to $5,412 and goes up by 2% per year for all 15 years of the lease. Year 10 the lease is at $5,975 and year 15 is at $6,597!
Tennant operates a senior care home within the property and must maintain a clean, safe environment with all systems of the home
in proper working condition.
There is a hold-harmless agreement in place between tenant and landlord.
THIS IS A GREAT 10-31 EXCHANGE PROPERTY!
Call now for more information.
Property Type :
Residential Income
County :
Orange
Style :
Residential Income
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ByOwner last updated this listing 06/17/2024 @ 07:56
MLS: NP22121599
LISTED BY: Gregg Perrah, First Team Real Estate
SOURCE: CRMLS
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
