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3 S CANNON AVE Sylacauga, AL 35150
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Key Details
Sold Price $95,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Subdivision None
MLS Listing ID 876979
Sold Date 04/27/20
Bedrooms 2
Full Baths 1
Year Built 1960
Property Description
***A rare find for this multi-family investment property in sylacauga***Brick...low maintenance***A great benefit to owing multi family properties is the benefit of not having 2 insurance policies and 2 property tax liabilities on each unit which increases the cash flow.*** Fully leased thru 2021, this property brings in $15000 per year at $625 per side, which is around 16% gross ROI and around 14% net ROI after tax and insurance expenses.***Additionally, unlike single family rentals, multi family properties are rarely empty on both sides which eases the worry of vacancy rate losses.***Conveniently located to hospital, medical, pharmacy, dental, shopping, library and schools.***Well maintained with updates and ''leased" make this property very appealing in that there isn't a lot of work to do before the property starts earning money. ***Start realizing a return on the investment immediately as both units are occupied and tenants have been with the owner for approx 2.5 years each!
Location
State AL
County Talladega
Area Talladega County
Interior
Heating Central Control (HEAT)
Cooling Central Control (COOL)
Flooring Some Hardwood, Vinyl
Exterior
Parking Features Other
Building
Foundation Crawl Space
Sewer Connected
Water Public Water
Schools
Elementary Schools Indian Valley
Middle Schools Nichols-Lawson
High Schools Sylacauga
Others
Financing Cash,Conventional
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