Property Description:
Showing scheduled for Friday 3/10. Proof of funds or hard money pre-approval required prior to showing. Please contact one of us if you are interested in joining.
Leesburg triplex selling $130k under market value! Triplex is currently fully rented. All tenants are on a month to month lease, and are each paying $800. Although market rents for each unit are closer to $1000.
Triplex is concrete block and all units are 2/1. Owner recently replaced all AC units and plumbing and electrical are up to code. Roof and windows are older but functional and not leaking. You will need to cosmetically update everything else however. All units will need new kitchen/bath/flooring/paint. House has good bones however being concrete block and ready to start generating income
In addition to the return you are getting, you are also getting this property significantly under market value. Other multi family properties in the area put your value around $400k, but that should be your rock bottom ARV with even a decent rehab. So, you are getting a great deal no matter which way you slice it.