Fantastic Investor Opportunity Rare 4 Family Building on Lake Shawnee. Estate sale - 1 unit tenant occupied at $850/month rent, 3 units gutted and renovation/framing was begun. Potential $50,000+ per year gross rental income, and $34,000 net operating income for an after renovated 8.5% CAP rate. Expected renovation cost $100,000, and after renovation value of $400,000 to $450,000 per recent appraisal. New Septic for 5 bedrooms installed 2018, new electric service installed in 2018. Other possibilities include combining 2 units into great lakefront owner suite with 2 rentals to pay down the mortgage. Due to renovations, cash or rehab financing only. Small strip of the part of the lot next to the lake is in AE flood zone, but not the majority of the lot.
2 Car Width, Additional Parking, Blacktop
WINDING RIVER REALTY LLC.
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Listing information last updated on September 22nd, 2019 at 4:18am EDT.