701 N 25th St
This Triplex in mid-town St. Joseph has a 2/1 unit in the first floor, and two studio units on the second floor. The first floor is occupied with a tenant paying $900/mo, and the two upstairs units are vacant. The upstairs units have been kept in good condition and had some minor touchups done to them recently. The tenant on the first floor smokes, and is on a month-to-month lease. There is a garage attached to the property.
The triplex has good curb appeal, and has both on-street and off-street parking.
The Triplex in as-is condition is estimated to appraise for around $185,000, and further enhancements could bump the ARV to 225,000.
With estimated rents exceeding $2000, this could make a great addition to one’s rental portfolio!
Asking Price: $161,000
Estimated current appraised value: approx $185,000
Estimated potential ARV: approx $225,000
Est rent: 2/1 for $900/mo, Studio 1 for $650/mo, Studio 2 for $650/mo
Est total rent = $2200
*Rehab descriptions are provided as a courtesy. We strive to help investors have a better understanding of possible needs and numbers. Information provided here is NOT an exhaustive scope of work nor is it a bid for contractor and labor. Please do your own due diligence as numbers/ARV are not guaranteed; they are based on our current knowledge of the property/market, experience, and a quick walk through.