Sold $450,000 - Duplex
They will be delivered vacant so there will be no dealing with any pesky Rent Stabilization Ordinance issues. If you spend $70K (at a guess) to get them in shape you can then reposition your financing and set up a conventional loan. This will give you an estimated cash on cash return 14%(!!)—in a very upside location. Doesn’t get much better than that.
Here’s a fabulous deal if you’ve got the cash and have the means to do the fixup.
The rents in this part of town have gone ‘out of sight,’ so if you do a good job you can create units that will fetch in the low $2000s.
They will be delivered vacant so there will be no dealing with any pesky Rent Stabilization Ordinance issues. If you spend $70K (at a guess) to get them in shape you can then reposition your financing and set up a conventional loan. This will give you an estimated cash on cash return 14%(!!)—in a very upside location. Doesn’t get much better than that.
Call if you want help with this.
