$180,000

Rarely availabe, this is a clean, well maintained 12 unit building and easily managed. This unit (and all other units) is always rented & never has been vacant since it was purchased 7 years ago.
Long term (5 years)renter currently paying $1775.00. Never has defaulted or paid late
Tenant has a history of paying 1-2 weeks BEFORE the due date for years , records available
Its as passive and clean returns you can get in RE
Lease was recently renewed & ends June 30, 2027
No special assessments (building is well funded & managed by the BOD)
Updated & remodeled, exactly as pics, new AC & appliances
Tub was repainted last year but paint is flaking due to normal wear and tear.
One reserved parking and 2 visitor parking inside the building
Off street parking is also available just outside the gate.
Owner/realtor also has 3 more units (2/1) for sale in the same building. Buy all 4, become president and assume control of the board. Owner/realtor acting as HOA president recently completed the 40 year certification in Feb 2024. In this period, roofing was done, building painted. cameras installed, sensor controlled LED outdoor lighting new asphalt and many other improvements.
BOD is actively managing and making improvements. No reserve/minimum reserves but HOA is well funded and will soon be making a contribution to the reserve account and get it up to speed.Monthly dues for this unit is $350.92
Property taxes $2023
Do the math and send a clean offer