GEORGE MANOLAKOS

Description

Selling this with tenant in place. No ground rent. HOA fee $150/mth. Property is tenant-occupied with a lease in place through March 2027. They are responsible for water and sewer. This property is Lead Free. This is a well-kept 3 bed, 1.5 ba townhouse. Finished basement, walk-out basement, with fenced yard. New SS refrigerator (2025), stove (2016), dishwasher (2016), and microwave (2016). Washer/Dryer included. Gas heat, central air conditioning over 9 years, roof about 5 years. I have kept up this property. If something needed repair or replacement, it was done. ------- I am retiring and ONLY offering my 3-property portfolio (I will sell individually too), tenant-occupied with existing leases in place. This doesn’t preclude you from raising the rent at lease end or not renewing their lease. Tenants have a consistent payment history. Although it’s not a must-sell situation, if I don’t have a contract by January 31st, I will pull them off the market and sell them retail; all are located in established residential neighborhoods. So let me consider all offers before then. ======== The property demonstrates stable, long-term rental performance, so even though they are not vacant, it’s time to dump these properties. If I don’t sell now, I will withdraw, renovate, and sell retail this year or next. I’m not an out-of-state owner, and I am a motivated seller, but I’m not a desperate seller. I feel my portfolio is priced to sell. Existing leases will be transferred to the new owner. I’m willing to offer a tour and share my profit and loss, rent roll, and CapEx roll with you if you qualify. I would love a quick close or a fast close, but it doesn’t have to be cash only. You’ll see they are not distressed after you review the videos. Please bring all offers; these properties are being sold “as is.” The most significant value add is that you will have cash flow from day one. I am not in foreclosure, and they are not bank-owned or REO. No short sale paperwork to deal with. I want to sell these before any estate sale or before they get caught up in a probate sale. Some of the properties possibly need work, but I wouldn’t call any a fixer-upper. There is nothing you would have to do to get them rented, because they are already rented. I have a handyman who does great work, and I will be glad to give you his name at closing for your handyman specials. There is a renovation opportunity when these tenants move out, more like cosmetic updates. Tenants have a consistent payment history. Existing leases may be transferred to the new owner. These are far from untouched and offer an equity opportunity with great bones and upside. Some have new roofs, new HVAC, and new appliances. As a landlord, I was quick to resolve issues and repair or replace as needed, so I don’t feel any need TLC. They aren’t a blank canvas or even in original condition. Using the income approach, you will see a real discount to valuation. This is offered below market value, and I think it has an attractive price point. I’m sorry, I can’t offer owner financing or have the seller carry any of the paper. Ideal for first-time investors as well as seasoned pros seeking an income-producing property. This can’t be sold as a lease option or subject-to. I think they are being offered at a fair price, even underpriced. I have been honest with my tenants and with you. I’ve been doing this since 1987. Check out the rest of my portfolio.

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