House/Villa Description
Reference: ADIPP1
SPECULATOR ALERT! FANTASTIC GROWTH OPPORTUNITY!!!!!!!!
This property was originally on the market for $69,900 it can now be bought for only $28,500 - this is because it needs a new roof at an approximate cost of $12,000.
Our management company will arrange quotes, provide the necessary trades people and manage any building work, if required.
This property is for an investor looking for the maximum potential from their investment. If you buy this property the roof can be patched for $500 to last another 2-3 years, then, collect the rents for three years and the income from your tenants will pay for the new roof. You will end up with an excellent investment meanwhile increasing your capital base greatly.
The tenants have been in these properties for many years and have maintained them well, but they are paying very low rents. A more realistic rent for a two bed room apartment in this area would be $500 per month.
REF ADIPP1 PROPERTY DETAILS
PLEASE NOTE THAT WITH THE EVER CHANGING EXCHANGE RATES WE HAVE USED £1=$1.6 & €1= $1.25. RATES FOR GUIDANCE AS ALL PROPERTY PRICES ARE IN USD.
*****THE PROPERTY NEXT DOOR, AND A MIRROR IMAGE TO ADIPP2*************
*********** PLEASE NOTE THESE RENTS ARE LOW, THE RENTS SHOULD BE A MINIMUM OF $500 PER MONTH, THIS PROPERTY HAS GREAT POTENTIAL TO INCREASE THE RENTS*********
*******ORIGINAL LISTING PRICE WAS $69,000*******
DOUBLE FAMILY UNIT PROPERTY
NEGOTIATED PRICE ,$28,500 / £17,812/€ 22,800
GROSS RENTAL YIELD, MORE THAN 33%!! - $9,600 / £6,000 / €7,680
NET RENTAL YIELD AFTER ALL ANNUAL RUNNING COSTS, 17.5% - $4,959 /£3,100 /€3,967
($9,600 – LESS RUNNING COSTS; $960 management , $900 water and insurance , $2781 property taxes =$4,959)
RENTAL INCOME - $800 / £500 / €640 per month
SHOULD RENT FOR $12000 PER ANNUM,
42% GROSS YIELD & 26% NET YIELD
GROSS RENTAL YIELD MORE THAN 42%!! $12,000 / £7,500 / €9,600
NET RENTAL YIELD AFTER ALL ANNUAL RUNNING COSTS 26 % $7,119 /£4,449 /€5,695
($12,000 - LESS RUNNING COSTS; $1200 management, $900 water and insurance, $2781 property taxes =$7,119)
SHOULD RENT FOR $1000 / £625 / €800 per month
YOU COULD OWN THIS PROPERTY FOR $34,500, APPROXIMATELY £21,562 /€27,600 WITH ALL BUYING, LEGAL FEES & COMMISSIONS PAID. WE WILL HAVE THE PROPERTY SURVEYED, VALUED BY AN INDEPENDENT VALUER AND A FULL MANAGEMENT REPORT PREPARED FOR YOU, ON THE PROPERTY AND THE TENANTS. ALLTHIS IS INCLUDED IN THIS PRICE.
GROSS INCOME FROM THIS PROPERTY SHOULD BE $1000, APPROXIMATELY £625 / € 800 per month! FEATURES: Detached, two storey, DOUBLE family; Each apartment has TWO bedrooms, living room, dining room, kitchen, 1 bathroom . Lot size: 33 x 132. Tenancy Type: Month to Month.
PROPERTY DESCRIPTION
This property is situated in West Syracuse Onondaga County, in New York State; it is 200m from Onondaga and Kirk Park, Syracuse University is a mile to the east, about a mile and a half to the north is the Carousel Center, the Destiny USA project and City Center. The street is a pleasant residential area.
This property has been owned by the same person for fifty years and the tenants have been there a long time that is why the rents are unrealistically low. We have negotiated the lowest possible price on this property and we feel it is an excellent opportunity to acquire a very reasonably priced investment, you also have the option of buying the next door property which is a mirror image of this one for the same price.
INTERESTED IN THIS PROPERTY? CONTACT US FOR DETAILS
We provide a complete purchasing service and will introduce the management that will maintain the property and collect the rent.
We will also source any property for our clients to suit their needs and budget
