1 Acres in Vernon, TX - $85,000
The property has ten 1 BD/1 BTH apartments - eight in a two story building and two in a separate building on the same lot. There are also three separate one car garages that can be rented separately as storage units. The complex is in a very clean neighborhood, next to a large church and several owner-occupied homes.
The rents averaged a total of $1741/month in 2011. After taxes, insurance, and utilities (water for two-story building, hall light, and gas heat for water), the rate of return is over 15 percent, based on last year's average income.
Current monthy rent income is $2350/month. Most of the units are rented for $350/month. We have been very selective with tenants and some of them have lived at the property for several years now. In the last year, several of the apartments have been updated with new flooring, carpet, and/or paint. Five of the apartments have CH/A, and fi...
Current monthy rent income is $2350/month. Most of the units are rented for $350/month. We have been very selective with tenants and some of them have lived at the property for several years now. In the last year, several of the apartments have been updated with new flooring, carpet, and/or paint. Five of the apartments have CH/A, and five have window units.
Feel free to call or email me with any questions. Asking Price: $85,000.00
Ben Belew, (940) 357-9940-cell
broker/owner
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