This isn’t even my listing…but I’m making good on my commitment to find great deals for my investors. This NE duplex is a great value: for under $165k you get two residences for less than the normal price for one. My faithful readers know that I eschew residential multifamily in favor of commercial multifamily due to the usual lack of cashflow. On most plexes you have to put huge downs just to keep from having an alligator to feed monthly. As such, many entry level investor’s feel their sole option is to live in one side and rent out the other. As this is already approved for a short sale below $165K, someone else has already done the hard work of negotiating with the bank on the owner’s behalf. That means most investors can buy it, rent out both sides and still have it cash flow. One thing about buying distressed property…they are often older residences and trashed inside. On their way out some homeowners remove every light bulb switch cover, and even the toilets. The reason I am selecting this as a “best buy” is the condition of the units and their effective and actual age. (They were built in 1997.) Anyone who has entered an REO property will have a hard time believing that these pictures are really Short Sale Units.
Details: The large unit is 1,208 Sq. Ft. 2 bedroom/1.1 bath home with a fireplace. It rents for $795 per month. the smaller 1 bedroom/1 bath unit has 650 Sq. Ft. and rents for $625/month. Contact me at 503.577.1034 if this sounds attractive. Or e-mail me at email@example.com.