748 Norfolk Way Bldg , Unit

Overview

***Investor/House Hack Special*** 2 separate units to either rent out or live in one and rent the other to pay the mortgage! This Bi-Level home has separate entrances each with full kitchens and 2 beds/1bath. The units are completely contained and have all appliances including stovetop/oven, fridge, dishwasher, washer/dryer in each unit. The home has a one-car garage large covered deck in the back and a huge fully fenced in lot. The sewer line was completely replaced in 2020 at a cost of $12,000! There is one furnace and one water heater for the home. This is where it gets good! The income on the top unit was $1550/month and the lower unit $1350/month. With owner costs including utilities, property tax, and insurance the net revenue is $26,000/year with a CAP rate of 7.5%!! There is plenty of opportunities to add value to this property and raise the rents. The units are both empty and ready to add value or get renters in immediately and start cash flowing! This opportunity should not be missed! FYI the interior pics are only of the garden level unit.

New Home Sales Hours

Courtesy Of Madison & Company Properties
Source: REcolorado

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