1402 N WILLINGTON STREET

Property Description

Investment Opportunity: Renovated Triplex Generating $4,500 Monthly Rental Income Listing Price: $450,000 Property Overview: Discover an incredible investment opportunity in the heart of the city. This renovated triplex offers three fully rented units, each contributing to a steady monthly rental income. Unit Breakdown: Unit 1 (Ground Floor): 3 bedrooms, 1 full and 1/2 bathroom, Bi-level open-plan living with dining area, modern kitchen, private patio space. Unit 2 (Second Floor): 3 bedrooms, 1 bathrooms, spacious living area, updated kitchen with granite countertops, in-unit laundry, balcony. Unit 3 (Third Floor): 2 bedroom, 1 bathroom, cozy layout, skylights, upgraded fixtures. Key Features: Fully Rented: All units are currently leased, generating a total monthly rental income of $4,500, providing immediate returns for the investor. Renovated Interiors: Each unit has been renovated with modern finishes, including hardwood floors, updated bathrooms, and contemporary fixtures. Prime Location: Situated in the bustling city center, tenants enjoy easy access to amenities, public transportation, and employment opportunities. Low Maintenance: Recent renovations minimize upkeep, allowing for hassle-free ownership and maximizing profitability. Separate Utilities: Each unit has its own meter, ensuring tenants are responsible for their own utility costs. Financial Highlights: Monthly Rental Income: $4,500 Annual Rental Income: $54,000 Operating Expenses: Approximately $15,000 annually (including taxes, insurance, maintenance) Net Operating Income: Approximately $39,000 Cap Rate: 8.6% (approx) Cash-on-Cash Return: 12% (approx) Additional Information: This triplex represents an excellent opportunity for investors seeking immediate rental income in a high-demand urban market. With a competitive listing price and strong financial performance, it's a must-see for any savvy investor. Contact us today to arrange a viewing and secure your investment in the thriving city real estate market.