Tenants: The property is currently fully rented. 405 is rented through 7/07 to a single mom with a baby through the local Section 8 program for $725/mo. The entire rent is being paid by the housing authority which guarantees monthly rent. In fact, I have it set up now to get the rent directly deposited into my bank account every month. Unit 407 is currently rented through 6/07 for $725/mo to an older couple with a small pet. I have also collected a $600 security payment from each tenant.

Property Management: Currently being managed for 10% gross monthly rents.

Property Condition: Property was recently fixed up with roughly $5,000 of repairs prior to current tenants move-in. Both sides were completely painted. Minor replacement of trim and window panes and screens. Carpets cleaned and stretched. New ceiling fans and light fixtures throughout. New hot water heater for unit 407. Finally some landscaping and exterior trim was fixed also.

This is a total turnkey investment fully rented, fully managed and fully rehabbed. Please don't hesitate to contact us if you have any questions.
 

Sale Price: $165,000