Off Market Duplex in WOODLAWN LAKE
San Antonio TX 78228
PRICE: $175,000
RENTS: $750/month currently for both sides; total of $1500/month
Market RENTS: total of $2,000-$2,300/month
Beds: 4 (2 bedrooms per unit)
Baths: 2 (1 bathrooms per unit)
Sq Ft: 2361 (1180 sq ft per unit)
Lot Size: 0.32
Build: 1952
Condition of the duplex is in great shape. The roof is higher end metal, not the cheap low grade tin stuff. Both units are separately metered and cooled by window units. Layouts are as functional as you can get and a great sq ft size for the area. You walk into a nice living area right off the front door that opens to the dining, kitchen is off the hallway behind the dining. There is a utility room right off the kitchen with washer/dryers. Then go back into the hallway and bedroom 1 is first off the hall, go down to get to the master which has a back door that leads to the back yard. Bathrooms in both units are very end of the hallway.
We need minimal repairs to increase the rent potential of each unit.
We are zoned C-2 as per BCAD with a land use classification noted as 'Multifamily Residence'. We sit on a double lot with the duplex on the far right of the property and a 4 car detached garage on the left. We are surrounded by other commercial businesses. To the left of us is an eye doctor and to the right is an auto upholstery spot. You could take advantage of our lot size and build out an additional multi-family unit (duplex, quad) or potentially a small store front on the left side of the lot.
Both units are on a month to month and I will have leases upon request. Market rent rates per sq ft are in the $0.88-$1.13 range - all of our COMPS are duplex units but all were in the 702-810 sq ft range (30-40% smaller than subject units). Based on rented price per sq ft our estimate fair market rents would fall in the $1,000-$1,150/month range for a total potential rent income of $2,000-$2,300/month.
VIDEO: https://youtu.be/I5K-3rwtY0U
The seller at one point rented out the lot in front of the detached garage; which has its own address, and has electrical and water meters tied in.
Put some money into the detached garage. Market rents suggest that the 800 sq ft 2/1 apartment above the garage when finished out would produce around $700-$750/month in additional rent on top of the duplex rents. Plus the first level of the detached garage could also be converted technically into another unit.
Landlord pays for water bill for both units ($140/month on average). I'd advise you to get both tenants out as they are on a month to month and increase rents to market value.
I provide my network with over 40 off market properties. If you are a cash investor actively looking for a deal I am the guy you NEED to meet - call me so that we can meet and I can find your next deal.
Strictly a CASH only deal; buyer pays all closing costs. Must be able to close quick (within 2 weeks).
Please DO NOT comment below to ask if it is available or for more info. I do not get notified of comments. For more info CALL/TEXT me at 2107934343; no hour is too late.
"Never Stop Investing"
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