1518 W Oak

Description

Property comes with additional lot so address is actually 1518 and 1522 W Oak Street. Only 22 years young. All identical 3BR/1BA units. Currently has 4 leased and 2 with upcoming vouchers which will mean it will be fully leased shortly once S8 inspections are complete. Once an accepted contract is achieved, all units will be shown within 3 business days to give appropriate notice to residents and to show all at once for review & approval. Rent roll is attached with pending units written in at $995 per unit. Landlord pays all LGE/water/sewer/garbage. Property is sold in AS IS/WHERE IS condition with all faults and with no warranties or guarantees. Nice sized units with large kitchens, generous living rooms and reasonable bedrooms. In-unit W/D hookups. Central Air/Separate Meters.Range and refrigerator provided. Exterior Decking refurbished in 2018 and again with some new spindles in 2022. Large parking lot behind building (alley access). Extra lot provides green space for residents. Successful and proven rental. Buyers must be preapproved (not prequalified) for a conventional loan that will carry a 6 unit building - please submit with the contract. Investors note: Significant upside & value added - separate meters for LGE...when new leases are signed if tenants pay their own utilities, yield is much better!