The story
FULLY OCCUPIED LAS VEGAS FOURPLEX WITH IMMEDIATE IN-PLACE INCOME. Current scheduled rents of $1,150, $1,100, $1,150 and $1,150 generate a combined $4,550 per month and $54,600 annually. Offered at $560,000, the property provides a 9.75% gross rent yield, 10.26 GRM and a price of $140,000 per unit before operating expenses. The property features four 2-bedroom, 1-bath residences totaling approximately 3,112 square feet. Each residence offers a private entrance, central air, fireplace, functional kitchen, laundry accommodations and access to a secured community pool. An excellent opportunity for a seasoned investor, first-time multifamily buyer or qualified owner-occupant interested in living in one unit while collecting rental income from the others. Potential FHA or VA owner-occupant financing may be available, subject to existing leases, unit availability, appraisal, property eligibility, lender requirements and buyer qualification. Buyer to verify all rents, leases, deposits, HOA information, utilities, operating expenses, property condition, measurements and financing eligibility. This approach markets it to both groups without promising that FHA or VA financing will automatically work. FHA financing for a four-unit property has additional self-sufficiency requirements, while VA financing may permit a qualifying borrower to purchase up to four units when the property will serve as the borrower’s primary residence.
