Very rare opportunity to buy a Quadruplex in Feastevrille Trevose PA. South after neighborhood in Bensalem school district and great demand for rental properties. The property consist of two Commerical buildings: Legal 4 unit residence 3500 sq ft (all 1 bdr units) and 2500 sq ft garage/warehouse/workshop.The property features:
- all units feature recent cosmetic updates within last 5 years
- all good paying tenants with mo/mo leases (rent under market value)
- central air in each unit ; w/d in each unit
- Current gross rent $45,600 (under market value) - rents 900, 900, 900,1100. Garage is owner occupied
- Projected market rent ($1300-1400/per unit plus $2500-3000 for a garage) $97,200 Gross income
- Expenses: $5,176; Water/sewer: $3000; Insurance: $3000, Maint/repairs: $4800
- Projected Net Income $81,224
- Projected Cap Rate 10%
This is a value add opportunity in the great neighborhood with low housing inventory and very high rental demand! Lots of potential with great returns.
SHOWING SATURDAY MAY 13TH - contact for the time