Eightplex for sale! Great investment opportunity in Edgar - this 2-story apartment-style property, built in 1972, features nice curb appeal with well-maintained exterior & brick facade, small back concrete patio area, roof (approx. 10 yrs old) and a nice lawn - walking distance to Edgar Softball Park & Oak Street Park, seated on a large 0.66 acre lot. The property offers 8 units each with 2 beds, 1 bath, and 1 covered carport parking stall (additional paved parking spaces as well). Common lower level laundry and 8 storage lockers (1 per unit). Rents range from $580-$660 per unit, approx. $5,000 per month, $60,000+ per year (gross rent income) / the vacant unit rent is currently advertised at $775 - market rents could likely be higher. Each unit is approximately 738 sq ft and features an 11x11 living room, 12x10 eat-in kitchen, 8x5 bathroom, 11x10 bedroom and 12x9 bedroom (measurements are approximate), depending on the location of the unit the room configuration may vary but the sizes are relatively similar. All units are currently occupied. The heat and water/sewer is currently included in the rent payment (paid by the owner), the electricity is separate (paid by the tenants). Baseboard heating and 1 A/C wall unit for cooling per unit. Water/sewer is approx. $4,000 per year and electricity / gas is approx. $3,000 per year (depending on usage / average provided for estimation purposes). The following appliances are included in the sale - refrigerator x8 and stove x8, dehumidifier x2, washer x1 and dryer x2. Overall, this is a well-maintained property with clean hallways and well-kept lower level mechanical room & common areas. Great opportunity to add to your growing portfolio or start as your next investment. Schedule your showing today!
Listing By COLDWELL BANKER ACTION – DAKOTA KARLEN
Data Last Updated 7:09AM - 10/27/2021
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