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Updated about 4 years ago,
6 units building with $101K annual rent. Is it a good ROI?
Hi,
I have 6 units building that was purchased for $780K in Chicago area. Bought it early this year and bumped up the rent from $82K/year based on the previous owner to $101K yearly rental income.
The property tax is about $9,300/year.
Water and Garbage about $6,000/year.
Electricity about $360/year.
Landscaping maintenance about $2,000/year.
Repair maintenance about $8,000/year
Insurance about $2,500/year
Gross Net about $72,840/year
Please let me know if this is a good ROI and if it is wise to keep it for a long term with this ROI? Any input or suggestions appreciated. Thanks Yanto