This property is no longer available to rent or buy. This description is from November 16, 2011
This is a quality all electric 12 unit complex in Camdenton built in 1999. It is a vinly-sided one building with 2 stories with 2 paved areas for parking. The building is 8800 SF, with each unit being 732 SF. The units feature 2 beds, 1 bath; ceramic tile is in the living rooms, kitchens, baths, and hallways; carpet in the bedrooms. The kitchens are fully equipped with a refrigerator, stove, and dishwasher. Strong rental history with market potential of $450 for upstairs, and $475 for downstairs or $5550/month. Current rents slightly lower at $5350/ month. Tenants pay electric, owner pays water, sewer and trash. Many of the hot water heaters have been replaced. Each unit features washer/dryer hookups, but there is also a common laundry with machines owned and operated by an outside company. There is an unfinished area in the basement which could be converted to office, storage, or possibly a studio apt. Do not disturb or talk to tenants. 2010 financials show a 11.8 cap rate.