A fantastic opportunity to own 3 duplexes in Tell City, IN. The property has been updated over the years, and well maintain. A new roof was recently installed on one of the duplexes. All units are occupied, except for 1. Tenants pay/reimburse utilities. Many tenants have been long term tenants.
Each unit is 2 bedroom and 1 bathroom. Newer flooring has been installed over the years, as well as updates to the kitchens and bathrooms. When fully rented, the Gross income of this property is $4,900 monthly, and $58,800 yearly. Routine expenses including taxes, insurance, lawn care and pest control run approximately $6,750 per year. Giving this property approximately a 10.9% cap rate. This property is a great opportunity for those looking to get into the multifamily business or those looking to expand their portfolio.