3 Unit Cashflowing Property in Gary, IN - $135K

[Jake Rhodes]

3 Unit Cashflowing Property in Gary, IN - $135K

• Rental Property Investor
• Crown Point, IN

Off Market Multi-family property in Gary - Lincoln St, Gary, In

Asking Price: $135,000

Property Details

Number of Units: 3

All Units Occupied: Yes

Lease Type: Month-to-month

Rent Rates and Unit MixUpstairs Unit 

Rent: $720/month 1st Floor Unit (2/1)

Rent: $790/month Basement Unit (1/1)

Rent: $780/month - 2nd floor (3/1)

Total: $2290/month

Section 8 Rent Potential

Total Potential Rent: $3,500/month combined

Utilities and ExpensesElectric: Each unit individually metered, paid by tenants.

Common area meter: $50/month (paid by owner).

Gas: Separate meters for each unit, paid by tenants.Basement does not use gas.

Water/Sanitation: Paid by owner.

Water: $90/month

Sanitation: $90/month

Water Heaters: 2 water heaters feed all 3 units.Top floor unit has its own water heater. Basement and second floor share a water heater.

Total Monthly Expenses for Owner Common Area

Electric: $50

Water: $90

Sanitation: $90

Total: $230 / month

Jake Rhodes for access and more info