Courtesy of T & C Management, LLC

Introducing the Four-plex at 213 63rd St. These are 4 one bath one-bedroom units located close to shopping, restaurants, and freeway access, I40. The units have an open floor plan, renovated kitchens and bathrooms, in the recent past. Great starter property, the CAP rate based on current rents of $750 per unit is 5.46, market rents, or FMR are $1050 per unit. At $875 per unit yields a return of over a 7 CAP, without pushing rents to their maximum. And this leaves room to grow to a 9 CAP. This property is priced at $137.50 per sq ft, $82,475 per unit. Well below market, with construction costs running at $200 to $250 per ft, and units selling at $100,000 to $150,000 per door. This is a bargain, seller is leaving the state, and wants this sold.