Great Opportunity to Buy and Hold!
229 N 16th St, Richmond, IN, 47374
4 UNIT PROPERTY
Richmond, Indiana
PRICE: $95,000
ARV: $197K (ARV determined by multiplying average multifamily price per square foot ($64.33) by 3,072 sqft)
Actual Rent: $1,425/month
Potential Rent: $2,936/month
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Unit Mix: Four 1BR/1 Bath Unit
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Occupancy: 75% Occupied
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Taxes: $1,998
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Insurance: $1,000
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Utilities: Tenants pay for all utilities except water.
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Building Square Footage: 1,536 Sq Ft
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Lot Size: 6,534 Sq Ft
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Year Built: 1920
TEXTING IS THE FASTEST WAY TO GET A HOLD OF US!
If you have any questions about this property, please contact:
Primary Contact: Larry Keith (463) 240-1822
You can see inside this property now. Click the image below to the current condition of each units, exterior, and basement.
Address: 229 N 16th St, Richmond, IN, 47374
Units: 4
Current Rents: $450-$500/Unit. One unit is vacant.
Market Rents: $734/Unit
Management: Currently self-managed, but excellent local property management company ready to step in and manage this one for the next owner.
Pro Forma CAP Rate: 26.79% (5% Vacancy, Taxes, Insurance, and 10% Prop Management included in Pro Forma Cap and Actuals)
Price: $95,000 (Cash, Hard Money, or Private Money)
Due Diligence: While we do our best to get all the relevant information to you, buyers are encouraged to do their own due diligence. (See Important Disclosures Below)
If you have any questions on this
property, please contact:
Larry Keith
Five Stream Ventures, LLC.
(463) 240-1822
Important Disclosures Five Stream Ventures, LLC. is not an appraiser or a general contractor and does not claim to be one. Buyer is to do their own independent due diligence. All properties are sold as is, where is with no warranties or representations expressed or implied. Five Stream Ventures, LLC. is a real estate investment firm and does not claim to be licensed real estate agents or brokers.