Description
Attention all Investors. These are semi-attached buildings. 425 John St is semi attached to 427 John St. The first property mentioned is located at the left side and the latter is on the right side. These two family property will be sold "AS IS with Section 8 tenants that are currently month-to-month with no bonded lease. The tenants are accountable on paying for their own utilities such as electricity, gas, and water. The property needs full renovation but has 2 new hot water heaters and 2 new gas furnaces installed by the current landlord, which are less than a year old. The property is way under market value. The after repair value on this property is a minimum of $550,000.00 for each side. If you buy both properties as a package deal, we can give a better deal of $389,000.00 for each property. Section 8 is currently paying its portion for each tenant. The property is pulling in over $2300.00 a month currently which can be proven from the section 8 vouches and deposits. The rents are currently under market value and can be increased bringing the property to pull in close to $4000.00 a month after renovation. You have the liberty to evict the tenants since they don't hold a lease and are not subject to receive one from the current landlord. You may opt for the landlord to evict the tenants, however, the purchase price will increase!
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5BEDS
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N/AACRES
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2BATHS
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01/2 BATHS
School Ratings & Info
Description
Attention all Investors. These are semi-attached buildings. 425 John St is semi attached to 427 John St. The first property mentioned is located at the left side and the latter is on the right side. These two family property will be sold "AS IS with Section 8 tenants that are currently month-to-month with no bonded lease. The tenants are accountable on paying for their own utilities such as electricity, gas, and water. The property needs full renovation but has 2 new hot water heaters and 2 new gas furnaces installed by the current landlord, which are less than a year old. The property is way under market value. The after repair value on this property is a minimum of $550,000.00 for each side. If you buy both properties as a package deal, we can give a better deal of $389,000.00 for each property. Section 8 is currently paying its portion for each tenant. The property is pulling in over $2300.00 a month currently which can be proven from the section 8 vouches and deposits. The rents are currently under market value and can be increased bringing the property to pull in close to $4000.00 a month after renovation. You have the liberty to evict the tenants since they don't hold a lease and are not subject to receive one from the current landlord. You may opt for the landlord to evict the tenants, however, the purchase price will increase!
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Data last updated 2023-01-31T07:46:35.333.