7221-23 s 525 e brochure
DESCRIPTION
East Midvale Duplex for sale listed exclusively by Investment Realty AdvisorsTRANSCRIPT
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East Midvale Duplex - Great Cash Flow
Joseph H. Mills, Principal Broker 801-971-2542 [email protected]
715 E 3900 S Suite 208 Salt Lake City, UT 84107
List Price $184,000Annual GOI (Gross Operating Inc) $16,500Est NOI (Net Operating Inc) $11,071Est Cap Rate 6.02%%
1100 SF : Year Built 19484 Bedrooms : 2 Bathrooms
100% Occupancy
7221-23 S 525 EMidvale, UT 84047
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Financial Summary | 7221-23 S 525 E Midvale, UT 84047
Joseph H. Mills, Principal Broker 801-971-2542 [email protected]
715 E 3900 S Suite 208 Salt Lake City, UT 84107
Month Residential Units Bed/Bath SQFT Rent/moGross Scheduled Income $1,375 Unit 7223 2/1 550 $675Vacancy Rate 3% Unit 7221 2/1 550 $700Eective Gross Income $1,334 4/2 1,100 $1,375Additional Income (coin laundry, etc) $0Gross Operating Income $1,334
Estimated Montly Expenses Building SpecsGas $0 Building SQFT is 1,000Electric $0 4 Bed/ 2 BathWater $60 2 driveways & Separate backyardsTrash $30 2 Gas MetersInsurance ($480/yr) $40 2 Electric MetersTaxes ($1304/yr) $109 2 Water HeatersLawn Maintenance $350/yr $29 2 Wall FurnacesProperty Management (7%) $93 2 Window A/C unitsRepairs and Maintenance (est) $50Total $411
UpgradesList Price $184,000 Newer RoofMonthly NOI (Net Operating Inc) $923 Moderate updating over past 10 yearsEst Annual NOI (Net Operating Inc) $11,071Est Cap Rate 6.02%
Remarks: Excellent opportunity on this single level side by side duplex on a great residential street. This duplex has a newer roof and had some basic updating including kitchen counter tops and tile oors. Easy to rent with a long term month to month tenant at $675/mo for the past 7 years. The other unit has a new one year lease at $700/mo. Smaller square footage means less cost in turning over units i.e.carpet, ooring, paint, etc.