3721 Ne 41st Street, Ocala, FL

12.90% return

SP: $160,000

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Property Description

Awesome Quadplex! Solid building. Separate electric meters. Concrete block stucco. City water & sewer. Central Heat & Air. Each unit is 2 bed 1 bath. Total of 4 units. All units are tiled and are in great condition. Tons of rental demand in the area. Market rents are $650-700 per unit. Located in beautiful Ocala, FL! Professional property management is available!! Rented below market value and will easily generate over $2600/month.

Property Information

Listing statusSold
Property typeMulti Family
Total units4
Total bedrooms8
Total bathrooms4
Building size3080 sq. ft.
Lot size0.3 acres
Year built1982

CountyMarion County
SubdivisionGEORGE S MAYO OF SILVER SPRINGS PARK
ConstructionCBS
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$160,000
Estimated rehab¹$0
Total investment$160,000

TypeProforma

Gross income (annually)$31,200
Operating expenses (annually)$10,562
Net income (annually)$20,638
Gross return19.50%

Gross income (monthly)$2,600
Operating expenses (monthly)$880
Net income (monthly)$1,720
Net return12.90%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$650/month$7,800/year
Unit 2: 2 bed / 1 bath$650/month$7,800/year
Unit 3: 2 bed / 1 bath$650/month$7,800/year
Unit 4: 2 bed / 1 bath$650/month$7,800/year
Total$2,600/month$31,200/year

Expenses

Property Taxes$209/month$2,502/year
Insurance$125/month$1,500/year
Maintenance reserve$167/month$2,000/year
Water and Sewer$300/month$3,600/year
Waste Collection$80/month$960/year
Total$880/month$10,562/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.