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Updated almost 7 years ago on . Most recent reply
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Selling two 4-Plexes in Kansas City, great cash-flow!
We have a pair of 4-plexes in Grandview MO, We are currently in the process of renovating 5 of the 8 units (Rents listed are market rent). 3 of the units are currently occupied. We purchased the properties in an under-performing condition and will have 5 of the 8 units ready to re-lease at market rent prior to sale. Market rent is $500 per unit. The three occupied units are currently renting for $375, $350 and $395. One lease is currently not performing. This property will perform very well once fully occupied at market rent ($2,000 gross market rent for $140,000). We will sell individually for $140,000 or will discount and sell for $270k as a pair.
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Will the renovations be completed before a closing?