Zenn Homebuyers Wholesale DealsZenn Homebuyers Wholesale Deals
Talk about a good location!! This is a killer long term hold and already updated and turn-key. This triplex features 3 separate units with a total of 6 beds, 5 baths, and 2,576 sq. ft. The property was renovated 3-4 years ago according to seller.
-New roof in 2021
-New electric panel and subfeed in 2022
-Main house repipe in 2020
-On Public Sewer
-Block construction
-2-car garage
-Remodeled units
-2 of the three units will be vacant at closing
Unit Breakdown:
Thornton Ave: 3 Bed / 2 Bath; Canton Ave (1106–1108): Two additional units, including a 2 Bed / 2 Bath middle unit and a 1 Bed / 1 Bath end unit. The property was previously under contract for $820,000, but the deal did not close due to timing issues with the buyer's 1031 exchange.
Comps for these types of properties are never easy to find but based on the recent rents of $5,450 total, you're buying into instant equity. 1106 E. Canton St. was rented at $1,650; 1108 Canton St was rented at $1,350 and 1017 N. Thornton Ave. was rented at $2,450.
Comps:
