Multi family income property. There are three single family structures on the lot. One concrete block house 2 bedrooms, 1 bath and carport. Other two structures are wood frame, consisting of a 2 bedrooms, 1 bath house and a 1 bedroom, 1 bath house.
Current income is $850 on two rented houses (below market) tenants have been there a long time. One unit is vacant.
Lot is 24,180 sq feet. (over have an acre) potential to add on to existing structures or build a fourth unit.
Once property is fully rented at current market rates, 16% CAP or better is projected.
estimated gross income $$18600 - tax $1000 and insurance 2000 = 15,600
Houses will need updating and roofs wanting to be re-shingled.