410 Bonneville … 7-PLEX
UNITS                                      
3 - Studios                          $325  / 975
1 – Studio                         $310  / 325  (discounted 5% for long term lease)           
1 – 2 Bedroom              $450  / 475   ($475–less $25 for building and yard maintenance)
1 – 1 Bedroom               $395  / 395 Upstairs unit                       
1 – 1 Bedroom               $400  / 400  Downstairs unit           
monthly rental INCOME              $2570
ANNUAL rental INCOME             $30840

PRICE                                     $265,000
PRICE per UNIT                         $37,857

Operating EXPENSES (monthly)                                   
Taxes                                                 $240
Insurance                                      $50                       
WSG                                                         $200.  (power paid by tenants)
Maintenance                                     $70.  (yard, bldg clean-up, maintenance etc)
Management                                      $250
Total                                                 $810
Annual OPERATING EXPENSE   $9710

Net INCOME                                    $21,130
CAP rate                                                 7.9

This 7-plex is only 2 blocks from ISU.   Laundromat, coffee shops, fast food and groceries are available within a few blocks. A new SavOn Drug has been built next door,  leaving this building in a strong residential neighborhood with good commercial neighbors.  

This summer we renovated the entire building… with new paint, floors and carpet.  The outside porch, decks and exterior paint were redone and many of the windows and doors were replaced.  We upgraded many of the appliances, counters and bathrooms.  The building was completed in October and is again fully rented.
The building is under excellent management, I believe capable of keeping the building rented and maintained.