Check out this super fresh, move-in ready 4plex Multifamily deal in an incredible neighborhood in Sutherlin! An opportunity to own 4 more units in your portfolio that will easily meet the 1% rule with rent increases. Rents are currently below market, which is why this 4plex is so cheap. This apartment building has been well maintained for the past 30 years and has a new roof (1 year old), 7 year old water heaters, 3/4 units have been remodeled, and gas and electric metered for each unit. Water is metered for the building.
Professional Home inspection is available.
Current rents:
Unit 1: Delivered vacant
Unit 2: $350
Unit 3: $450
Unit 4: $500
Market rents:
Unit 1: $1,000
Unit 2: $1,000
Unit 3: $1,200
Unit 4: $1,200
$4,400 total market rents.
Suggested strategy: LTR, or owner occupy one of the units and keep the other 3 rented. Meter water & sewer for each unit. Add utility billback for Garbage and increase rents maximally every year until at Market.
Link to more photos: https://drive.google.com/drive/folders/1s4eEvlJySaTPIbZSyon_A37d1DKpMH84?usp=drive_link