Updated Turn-Key 4-Family in North Hampton

Fantastic opportunity to purchase a turn-key four family located in the North Hampton neighborhood. This building was updated throughout featuring kitchens with updated cabinets, breakfast bar, dishwasher, microwave, stove, fridge, backsplash, tile flooring, USB charging ports. Bathrooms are updated throughout with new tile, new vanity, shower system. There is a bonus room off of the back bedroom that has electric that is ideal for a kids room or office. The units have central air conditioning, stained glass windows, there are original hardwood floors, new lighting and fans throughout. The building has off street parking, washer dryer hookups for the tenants in the basement. The electric has been updated, there is pvc plumbing and newer condensers. The building is currently fully rented at $3,387 a month which is $40,644 annually if fully rented with annual expenses at $8,247 creating a potential net income of $32,397 a year which is an 8.1% cap rate. Showing units only with an accepted contract.

Rents:

$800 (plus additional $12.00 washer rental for a total of $812) Lease through 3/3/2021

$850 Lease through 8/31/2020

$850 (plus additional $25 pet fee and $25 washer/dryer rental for a total of $900) Lease through 7/15/2020

$825 Month to month

Expenses:

Real Estate Taxes – $2,349.22

Insurance – $1,242.50

Sewer – $1,664.45

Water – $1,490.20

Maintenance – $1,500

Tenants pay Gas & Electric.