6 unit Multi family investment property |
| Price: | $459,900 |
| Property Type: | Multi-Family |
| For: | Sale |
| MLS #: | 289043 |
| Street Address: |
2416/2418/2420 Queen St (view map)
|
| City: | Bellingham |
| Zip Code: | 98229 |
| Site Features: | Close to down town schools, Parks & shopping |
| Area: | Central Bellingham |
| Zoning: | Multi family |
| Water & Sewer: | City of Bellingham |
| Hight Speed Internet: | Available |
| Building Square Feet: | house 1056/ duplex 1576+-/Tri-plex 2400+- |
| Exterior: | Various |
| Terms | Cash out conventional fin |
| Building Condition: | good |
| Roof: | Comps |
| Heating: | Various |
| Flooring: | various |
| Lot Dimensions: | 99 x 124 +- |
| Taxes: | $3964 for 2011 |
| Low current rents: | $46,800 gross scheduled |
| Proforma : | $51,900 with modest market increases |
| proforma cap : | 8.19% |
| Proforma cash on cash return: | 12.33% (with 25% down) |
| Approx annual depreciation: | $12,500 (based on 75/25 value 27.5 schedule) |
|
House, duplex, and triplex all on one parcel. Good cash flow and significant up-side as rents are well under market. Rents have room to go up and cash flow could increase nicely. Your opportunity to invest in nice cash flow with a great future. Creative ideas for additional cash flow as well. |
