Quadplex available in South Gate, CA for $360,000. This price includes a two-bedroom and 3 one-bedrooms. The cost of this property is approximately $2,225 a month (assuming 25% down, 4.5% interest on loan – which covers mortgage payment and accounts for maintenance and vacancy) and the South Gate rents will produce approximately $3,300 a month conservatively. All in all, you are looking at an investment that can produce a return greater than 10% a year. Find out further details… let me know and contact me here.
This property is up for grabs, and it is in the middle of downtown. Rents in this area are insane, but any beach commuter would know that it is worth the cost. Plus, this area is an up-and-comer area for newly independent professionals and students alike (two colleges are in the vicinity). The listing price is $329,000, for a two-bedroom unit and a one-bedroom unit. An average investor is looking at roughly $1625/mo mortgage payment (assuming a 25% down payment and 4.5% interest on the loan). As mentioned, the rents more than cover the cost (see rates) with the average of a one-bedroom and a two-bedroom being $1300 and $1700 respectively. The rents almost double the mortgage. With taking into account a vacancy rate and maintenance, the rate of return on this property is greater than 10% a year. For more accurate accounts… find me.
NOTE: ALL PROPERTIES MENTIONED IN THIS BLOG ARE ACTIVE AS OF THE POSTING DATE
Pasadena is a highly prized city in terms of real estate, considering the high prices and high rents. There is an opportunity to own a nice chunk of land, and for the list price of $279,000 you get two units (both units are two-bedrooms) and a lot size greater than 13,000 sqft. The rents in Pasadena for two-bedrooms, conservatively, range from $1,200-$1,800 depending how close to Downtown Pasadena (see rates). Considering the standard purchase requirements for an investor of a 25% down payment and assuming a 4.5% interest rate on a 30-year fixed mortgage, the mortgage payment would be approximately $1,400 a month or $16,800 a year and the down payment would be $70,000. The rental income would approximately be, on the low end of scale, $2,400a month or $28,800 a year. Therefore, the approximate net income of this property would be $12,000 a year (28,800 – 16,800) and the return on investment would approximately be 17%a year (12,000/70,000). For more details, you know how to reach us…
This is a premium area of Long Beach, CA. Being close to two colleges- Long Beach City College and Cal State Long Beach- this property commands high rents (see rates). The price of $279,900, gets you two units (a one-bedroom and a two-bedroom) which combined bring in approximately $1800 – $2000 per month or a gross schedule income of $21,600 – $24,000 a year conservatively. The numbers speak for themselves, and this investment is safer than the stock market today. At list price the approximate investor down payment of 25% would be $70,000 and the approximate 30 year mortgage payment at 4.5% would be $1400 or $16,800 a year. The difference of rental income and mortgage payments at the low end of range produces $4800 per year (21,600 – 16,800). That is an approximate 6.8% (4,800/70,000) return on investment per year.