For sale - investment property - 2 great tenants

[gemfyre]

No, seriously. If you, or anyone you know is looking into purchasing an investment property, ask me for details on this place.

It's already got two good tenants in it, who are quite happy to re-sign a year-long lease and possibly stay longer.

Apparently the likelihood is that it will be sold to an investor, and quite possibility even the rent will stay the same, but I hate that small possibility that whoever buys it will want to move in as soon as our lease is up. }:-\

Comments

[jet-ski.livejournal.com]

how much do they want for it? you know, the RE market is cooling at the moment, hope that the owner is asking too much and that he won't get any bites!

[gemfyre.livejournal.com]

They're asking for around $510/520 thou. The place across the alley just went for a bit below $500 thou and it's not as nice as this place.

[jet-ski.livejournal.com]

Hmmm. That would be a helluva mortgage. How much rent are you paying on it if you don't mind me asking?

[gemfyre.livejournal.com]

$350 a week.

[jet-ski.livejournal.com]

Wow, that makes the ROI almost 7%, not too bad but I'd be wanting 10... pity we're probably still a year or more away from buying :P

[gemfyre.livejournal.com]

ROI?