XXX Main ST
Mount Vernon WA
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Year Built: 1930
Total Living Sq Ft: 21,084
Studio Units – 14
-Avg rents $525
Studio + den – 6
- Avg rents $575
1 bed – 9
-Avg rents $650
1 bed + Den – 1
-Avg rents 675
Tax Assessed Value 1,015,000
4 story, 35 Unit apartment building at a significant discount
with a high return. This property is in downtown Mt Vernon
close to shopping centers. Currently 20 units are occupied
brining in $11,333.00 a month in rent (owner pays utility bills).
There are 15 units vacant that need minor fixes to get them
rent ready. An investor should be able to get all of the units
rentable with $75,000 in TI.
After the units are fixed up with an average of $650 a unit the
property will bring in an additional $9,750 a month in rent.
Total gross rent will be around $22,000 a month. After
factoring expense and vacancy rate it brings this property to
around 23%!
Call or Email immediately to reserve this opportunity!
Talk soon,
Joe Bauer & Erik Bee
www.SeattleRealEstateInvesting.com
Confidentiality Notice: The information contained in and transmitted with this communication is strictly confidential, is intended only for the use of the intended recipient, and is the property of Seattle Real Estate Investing, LLC or its affiliates and subsidiaries. If you are not the intended recipient, you are hereby notified that any use of the information contained in or transmitted with the communication or dissemination, distribution, or copying of this communication is strictly prohibited by law. If you have received this communication in error, please immediately return this communication to the sender and delete the original message and any copy of it in your possession. The Company offers the details of this property in good faith but cannot guarantee or warrant the accuracy of this information nor warrant the condition of the property. A buyer should instruct his agents, or his surveyors, to investigate such details as the buyer desires validated. The property is offered subject to prior sale, price change, or withdrawal without notice.
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