2231 Lincoln Street
Property Description
MOTIVATED SELLER!! Turnkey Triplex Investment Opportunity in Anderson! Excellent opportunity to own a recently updated triplex with three 1-bedroom, 1-bath units, all currently leased on one-year leases at $850/month per unit. The property currently generates $2,550/month, or $30,600 in annual gross rental income, with tenants responsible for their own utilities, except water. Recent improvements include a newer roof, fresh exterior paint, new exterior lighting, new gutters, and new interior paint throughout all three units. All units feature new flooring and have appliances, as well as new water heaters. Units 1 and 2 offer generous basement space, providing valuable additional storage, and the basement includes washer and dryer hookups for each unit. Unit 3 is a detached accessory dwelling unit. With recent improvements, existing rental income, tenant-paid utilities, $30,600 in current annual gross rental income, a Gross Rent Multiplier of 7.02 and a Cap Rate of 12.87%(minus vacancy & maintenance since newly renovated and rented), this triplex offers an excellent opportunity to add a cash-flowing property to your investment portfolio.
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $214,900 |
| No. of Units: | 3 |
| Year Built: | 1947 |
| Opportunity Zone: | No |
| Price per unit: | $71,633 |
| Property Website | Click Here |
| Number of Bedrooms: | 3 |
| Number of Bathrooms: | 3 |
ID: 3yd-MIBORIN-22118992
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