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Sold for $1,045,000 on Dec 7, 2018
SELLER FINANCING!! NO APPRAISAL FEES! NO LENDER FEES! Seller wants to finance this very nice property located on a large 7500 sq ft lot in a great rental area. Main building at 1203 S Meyler consists of 4 spacious 1 bedroom 1 bath units. Upper units have harbor & city lights view. Two of them have also been nicely upgraded. Owner pays water for these units. 911 W 12th St is a 2 bedroom 1 bath home with indoor laundry and fenced yard with patio. The tenant pays all utilities including water. 913 W. 12th St is a nicely upgraded cottage with a fenced front yard. This tenant also pays all utilities including water. The oversized 2 car garage is used by the current owner and can be rented for an additional $300/month income. The property is well-maintained and easy to manage. Seller has owned the property for 30 years and wants to finance the sale with a minimum 25% down. Terms to be payable over 30 years, due in 10 years. Interest rate is negotiable. Seller will also consider a cash-out deal. Perfect opportunity for the investor who has the funds to invest and doesn't want to deal with the stringent guidelines of a commercial lender. GRM & Cap Rate are figured on ACTUAL rents and there's lots of upside to make the numbers even better. Did I mention it's located just a short distance from the multi-million dollar waterfront renovation currently underway? This one makes sense and has the potential to be a real money maker.