GEORGE MANOLAKOS

Description

Invest in your future with 1, 2, or 3 of these fully occupied, cash-flowing triplexes in the popular Bella Vista/Italian Market neighborhood of Center City. The owners are ready to retire and pass on their success to you. With a 99% occupancy rate spanning 3 to 17 years, make your first investment an “easy win,” or add another solid multi-family building to your portfolio. Either way- it’s a win. The tenants are happy, love the location, and are paying near or at-market rents, so you don’t have to worry about making dramatic changes after you buy. Plus, there’s potential to increase your earnings by renting out additional storage in 2 of the 3 basements to the tenants or someone local who needs extra storage space (or use it for yourself!). You can also do some modest upgrades when units turnover and increase the rents year after year. Each tenant in each unit pays for their gas and electric (separate utilities & mechanicals- yea!). The landlord only pays for water for the 3 buildings and common electric in 2 of the 3 buildings. All units have the required sprinkler systems, RM1 Zoning, active rental licenses, and Lead-Free (811) or Lead-Safe (819 & 1182) Certificates from the city. Details about this building: 819 S 11th: Gross rent is $4500/mo for two 2-bed/1-bath flats and one 1-bed/1-bath flat. The first floor has outdoor space and access to an extra basement room that is finished, plus exclusive access to the unfinished portion of the basement. Bilco access to the basement is temporarily closed shut but could be accessed if needed down the road. Each unit has in-unit laundry. Tenants use window units for cooling. ...... Details about the other two buildings: 811 S 11th: Gross rent is $5550/mo over three 2 bed/1 bath flats. Each unit has C/A, private outdoor space, and a storage cage in the back portion of the basement. Units 1 & 3 have in-unit laundry. Unit 2 uses the laundry in the basement. The front part of the basement is available and easily used for additional storage for you or someone else. 1182 S 11th: Gross rent is $5700/mo for two 2-bed/2 bath flats and one 1-bed/1bath flat. The third floor has a private roof deck, and all units have central air and in-unit laundry. The basement is available for your use or an opportunity to add value by providing additional storage for the tenants....... The opportunity here is perfect- cash flow right out of the gate, and plan to make strategic value-adds along the way to increase your profit!

Features