12 units. Duplexes. Income property. Greer SC.

Between Greenville and Spartantburg. 1 mile from the new BMW plant.

All rent for $450. a month. 6 buildings/ 12 units. All occupied

Expenses:

RG&E - $600. / month
Insurance - $100. / month
Refuse - free done by the city 
Water - paid by the tenent
Taxes - $250./ month (Annual Taxes: $3000.00)

Total: 950.

$5,400-$950. = $4450. monthly NOI

$ x 12 = $53,400 annual NOI

$53,400 / $650,000. = 9% cap rate


This property has separate electric and water meters for each unit. All are 2bedroom 1 bath. Brick on all 4 sides. Crawl space. Deck.

I would consider some owner fianicing with at least half paid down at closing. Buyer would be responible for title search and closing costs.
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The roofs are approximately 10-15 yrs old. good condition. I have purchased several new refrigerators and stoves.  Every apartment that has been vacant during my ownership has received improvements, cabinets, counter tops, lighting, cieling fans, plumbing - installed shut off valves, 6 new toilets, flooring - vinyl tile, carpet torn out and floors refinished, new vinyl in kitchens and bathes. New double pane vinyl windows. Vinyl soffit and metal covered eaves. No painting outside ever again  While all apartments could use something they are for the most part in great condition. I have replaced many entry doors. All units have new heat pumps and central air. They were installed this past winter. If I were to sell tomorrow I would be leaving the property much better than I found it.