I have a 4 Plex + House on one lot/APN in Hanford
It is located on a corner lot, on 301 E. Myrtle Hanford Ca
4 Plex is 4 bed/4bath
2bed/1 bath House rents for $550
$2,260.00 per month
$27,120.00 Annual Income
I think there is room for increasing rent to $525 per unit and another $150 on the house. So another $540 per month is reasonable. To take you to annual income of $33,600.00
I have attached some pictures of the exterior. I think a stucco job and windows would turn this place into a really good looking property. The seller says he has updated the interior of the units but have not been inside.
The units are separately metered for gas & electric and the house has its own meter for gas & electric.
The 4plex has one water heater for all of the units so the landlord does pay for the gas utility bill only. Water, sewer, trash is also his expense.
I have attached some photos for you to look at. Its ready to go.
I think the value of the house is 60k and the value of the 4 plex is $180,000 so approx $240,000.00
I am selling for 198k...
I dont think that you would have to do much other than do a quick stucco job on the exterior and maybe some windows...it would really make the place stand out...then maybe 55k door is something you could get for it...so 275k