Wednesday, August 31, 2011

2152 Franklin St, Fort Myers, FL | Powered by Postlets

2152 Franklin St, Fort Myers, FL | Powered by Postlets

2152-2154-2156 Franklin Ave: a Triplex with 1 - 1/1 unit getting $425 a month rent, and 2 - 2/1 units getting $500 a month rent. All are on separate water and electric meters, have been renovated with tile and pergo flooring through out and have newer kitchens. There is a full, separate laundry room also in the building and has 3 parking spaces in front of building. Taxes on the property are going to be LESS THAN 1k in a year, along with insurance at $1,200 a year, giving this property an attractive bottom line to any investor with 3 fresh new 1 year leases good until February 2012. Managed profesionally by a local property management company that takes only 10% to manage the property per month. After monthly Gross Income of $1,425.00, minus approx expenses just around $300 /month that generates approximately $13,500.00 net income annually. In just over 6 years this property has paid for itself! That's a CAP RATE of over 13%. See confidential remarks for showing and offer instruction.

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