Description

4-Plex apartment house for sale. House has 4 total Large 1bed/1bath apartments, two upstairs and two down. With Large detached Garage.

Current rent is set at $315/month. Landlord pays Water/Sewer/Trash & gas for Hot water tanks. All said just under $200/month for the utilities. New water main line was installed by Kuhn Mechanical in \"08.

Selling them AS IS, asking $30,000.00. Cowley county assessor current Value is $50,060.00. I am selling them low because I have moved to a different state, gotten divorced and looking to buy out here and they do need some work. But if you do the math this is a great opportunity especially if you have some home repair skills. 30K on a 10 year note at 5.9% is a payment of $331.56/month plus the $200.00 utilities. $531.56/month total. Rent is $315.00/ month, That is $945.00/month if you rent 3 and live in the other or if you rent all 4 it\'s $1260.00/month. There by having an extra income between $413.44-$728.44/month. That\'s an average week\'s pay check for most and having the place you live paid for by your tenants! Currently three of the apartments are occupied.

Upstairs front apartment has a long time renter that has been in the apartments longer than I\'ve owned them. He pays on an auto pay every month. Two other apartments are occupied with Family while they attend school. They will Either pay rent or move after sale.

The down stairs front apartment is in need of completion. The water pipes were in process of updating from Steel to PVC and this is the last area of work. However, lost the person that was doing the work. Most of the necessary pipes and fittings are there and will be included in the sale. It also needs drywall work after pipes are done. And the bathroom sub floor needs some patch up.

This 4-Plex is a great starter for some one with the skills necessary to perform house repairs and needs a starter house to live in. The house could be purchased as a primary residence, live in one and rent out the others. There by paying for everything with your tenant income and not your own.