Presenting a fantastic investment opportunity: a fully stabilized four-plex featuring a robust cap rate of 10.12% and a gross annual income surpassing $80,000, resulting in an impressive annualized ROI of 16.25%. With rental incomes ranging from $1,600 to $1,700 per unit, this property has a history of dependable tenants and strong financial performance, making it an attractive choice for any real estate portfolio. Additionally, it holds potential for first-time homebuyers, as the rental income can be leveraged to help qualify for the purchase. This property offers compelling financial returns and the added potential for residential flexibility, making it an outstanding investment opportunity with its attractive cap rate and solid rental income. In addition to that, this property offers a half-acre lot requiring very little maintenance. Additionally, the air conditioning units and heaters are new, with the roof being installed last year. With parking available for 12 cars inside the property, each unit is equipped with separate electric and gas meters, as well as new flooring inside all the units. Furthermore, two new water heaters were recently installed with permits, adding to the property's appeal and value.
Property Type :
ResidentialIncome
County :
Stanislaus
Style :
ResidentialIncome
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ByOwner last updated this listing 05/18/2024 @ 15:03
MLS: 224009791
LISTED BY: Colin Hoogendoorn, HomeSmart PV & Associates
SOURCE: MLS Metrolist
Buyer Agency Compensation: 2%
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.
