Description
Setting at the end of a long cul-de-sac street, overlooking (but well above) the Beaver Creek, this large circa 1840's farmhouse in Caln Township is a 4-unit including three 2-bedroom units and one 1-bedroom unit on 1.1 acres. The setting and location may be perfect for attracting tenants. All income figures listed here are Pro Forma and completely estimates. The property was foreclosed and is now bank-owned, but the former owner and some tenants still reside within the building. The bank is in the process of evicting the former owner and tenants but that process was recently started and can take several months. The owner does not have contact with tenants, so it is being sold with EXTERIOR showings only at this time. Property will be sold subject to Occupant(s)In 1998, 25 years ago, rents were $975, $975, $925 and $780. At the time, the property was listed as having natural gas heat, natural gas hot water, and on site well and septic. It did not disclose which utilities were separated.Based on our estimated size and the rental increases from 25 years ago, we expect rents are likely $1500 for each of the 2-bedroom units and $1100 for the 1-bedroom unit, or a potential gross income of $67,200 per year. Again, these are rough estimates.The owner does NOT accept PAR real estate contracts. Correct forms will be provided to you. Purchase is "As Is, Where Is" Buyer responsible for any Municipal Inspections.
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0BEDS
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1.1ACRES
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0BATHS
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01/2 BATHS
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3,528SQFT
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$135$/SQFT
Description
Setting at the end of a long cul-de-sac street, overlooking (but well above) the Beaver Creek, this large circa 1840's farmhouse in Caln Township is a 4-unit including three 2-bedroom units and one 1-bedroom unit on 1.1 acres. The setting and location may be perfect for attracting tenants. All income figures listed here are Pro Forma and completely estimates. The property was foreclosed and is now bank-owned, but the former owner and some tenants still reside within the building. The bank is in the process of evicting the former owner and tenants but that process was recently started and can take several months. The owner does not have contact with tenants, so it is being sold with EXTERIOR showings only at this time. Property will be sold subject to Occupant(s)In 1998, 25 years ago, rents were $975, $975, $925 and $780. At the time, the property was listed as having natural gas heat, natural gas hot water, and on site well and septic. It did not disclose which utilities were separated.Based on our estimated size and the rental increases from 25 years ago, we expect rents are likely $1500 for each of the 2-bedroom units and $1100 for the 1-bedroom unit, or a potential gross income of $67,200 per year. Again, these are rough estimates.The owner does NOT accept PAR real estate contracts. Correct forms will be provided to you. Purchase is "As Is, Where Is" Buyer responsible for any Municipal Inspections.
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