This REO four-plex just received a MAJOR REHAB! Major roof work was just completed, the exterior of the property was just painted and the two vacant units were completely remodeled. The vacant 4 bedroom / 2 bath house that was completely rehabbed is perfect for an OWNER USER! Two of the tenants have been long-term tenants. The 2 bedroom / 1 bath house occupied by one of the long-term tenants is being rehabbed right now. This investment opportunity consists of 2 separate houses and a duplex. The property has a great unit mix of a 4 bedroom / 2 bath house; a 2 bedroom / 1 bath house; and 2 one bedroom one bath units in the duplex. This REO four-plex is offered at $329,000 and has the potential to generate an approximate fifteen (15%) percent cash on cash return by leasing the 2 vacant units at market rents. At the list price the potential GRM is only 7.26 GRM, $82,250/unit and $118.77 per sq. ft. Capitalize on historically low four unit financing and donÃ¢â‚¬â„¢t miss out on this one of a kind REO!
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