Turnkey Rental

1113 Martin Street, Lake Hamilton, FL

12.10% return

SP: $135,000

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Property Description

**10K SPECIAL!!! Buy this property with $10,000 down, everyone is qualified!!!*** Awesome investment. Nice CBS triplex with separate electric and water meters. Property is on city water/sewer. Brand new roof. Tons of repairs done. Rents can be increased. Located in one of the fastest growing counties in the state. Stable tenants. No repairs are needed!

Property Information

Listing statusSold
Property typeMulti Family
Total units3
Total bedrooms5
Total bathrooms3
Building size2250 sq. ft.
Lot size0.5 acres
Year built1975

CountyPolk County
SubdivisionMILLER J T
ConstructionCBS
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingWindow Unit
CoolingWindow A/C

Property Financial Summary

Sale price$135,000
Estimated rehab¹$0
Total investment$135,000

TypeActual

Gross income (annually)$20,400
Operating expenses (annually)$4,058
Net income (annually)$16,342
Gross return15.11%

Gross income (monthly)$1,700
Operating expenses (monthly)$338
Net income (monthly)$1,362
Net return12.10%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$600/month$7,200/year
Unit 2: 2 bed / 1 bath$600/month$7,200/year
Unit 3: 1 bed / 1 bath$500/month$6,000/year
Total$1,700/month$20,400/year

Expenses

Property Taxes$144/month$1,722/year
Insurance$70/month$836/year
Maintenance reserve$125/month$1,500/year
Total$338/month$4,058/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.