663 Avenue J Nw, Winter Haven, FL

9.78% return

SP: $129,900

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Property Description

Awesome triplex! Brand new roofs and updated A/C units! No deferred maintenance needed! Property is rented below market and can generate over $1750/month! Great area. Updated electric with separate meters. City water and sewer. Professional property management is available. Very nice area of Winter Haven. Tons of upside.

Property Information

Listing statusSold
Property typeMulti Family
Total units3
Total bedrooms4
Total bathrooms3
Building size2285 sq. ft.
Lot size0.3 acres
Year built1971

CountyPolk County
Subdivision566500
ConstructionCBS
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$129,900
Estimated rehab¹$0
Total investment$129,900

TypeActual

Gross income (annually)$18,000
Operating expenses (annually)$5,294
Net income (annually)$12,706
Gross return13.86%

Gross income (monthly)$1,500
Operating expenses (monthly)$441
Net income (monthly)$1,059
Net return9.78%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 1 bed / 1 bath$450/month$5,400/year
Unit 2: 1 bed / 1 bath$500/month$6,000/year
Unit 3: 2 bed / 1 bath$550/month$6,600/year
Total$1,500/month$18,000/year

Expenses

Property Taxes$113/month$1,354/year
Insurance$72/month$860/year
Maintenance reserve$167/month$2,000/year
Water bill$90/month$1,080/year
Total$441/month$5,294/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.