This property was previously a none legal duplex, that had a sewer backup two years previous to us acquiring. The previous owner of this property basically moved the basement tenants out and left it mid demo since the backup. This property was presented to us from our Realtor as an exclusive property. We acquired the property, applied for permits to convert this property to a legal duplex (move valuable for resale), moved the main floor tenant to another property and started construction. The conversion took approximately 10 weeks, and looked amazing when completed.
We put the property up for sale, it sold to an investor looking for a turn key property. The new owner was able to acquire the property from us in a short closing, put the units up for rent, and it was fully tenanted within 3 weeks & bought in $300 extra than projected cash flow. This property is CASH FLOWING $915.00 per month