4004 Cope Street

Large, well maintained Midtown 4 plex with long term tenants. Fully rented. Updated regularly. Secured Building Entrance. Fully fenced yard for privacy with a vegetable garden and fruit trees. Each unit has it's own storage unit. Coin-Op Laundry.The seller is, slowly, increasing the rents. They are currently (8/29/2024) at
Unit #1 $1,000.00
Unit #2 $1,200.00
Unit #3 $1,125.00
Unit #4 $1,375.00
Total: $4,800.00
The current rental market value in that area for 2 bdrm apts is $1,400.00 and $1,700.00 for 3 bdrms, which would be $5,900.00 unless it's owner occupied.
On a seperate note, the in the owners expenses, he lists the Taxes & Insurance as expenses ($1,089.00 & $9,388.00) which, for him are expenses because the building is paid for. The new owner wil likely have a mortgage and those will be included in that monthly pmt.
Thank you!