Description
A great opportunity to acquire a fully occupied duplex - 220 and 222 E. Brooks Street. This brick duplex is located in a strong demand rental market in Kingstree, SC. Constructed in 1945, the property consists of 2 units with 1,252 sq. ft. The long-term tenants are on a month-to-month lease. Both units are rented for $550.00 per month with a gross rental income of $13,200.00. The duplex is self-managed by the Owner. The rents are below the current market rent. Increasing the rents to $700.00 will have a cap rate return of 5%! This will expand positive cash flow and the market value in an insatiable rental area. The tenants have separate meters and pay for all utilities - water and power. Each floor plan includes covered porches, 2 bedrooms, 1 bath, living room, dining room, and laundry room. The roof was installed 10-12 years ago. The property includes two new 2021 HVAC units. 220 E Brooks features an updated bathroom with a new toilet, tile floors, new vanity, new tub, and new shower. The kitchen includes new laminate floors. The owner will consider owner financing.
-
0BEDS
-
0.24ACRES
-
0BATHS
-
01/2 BATHS
School Information
Description
A great opportunity to acquire a fully occupied duplex - 220 and 222 E. Brooks Street. This brick duplex is located in a strong demand rental market in Kingstree, SC. Constructed in 1945, the property consists of 2 units with 1,252 sq. ft. The long-term tenants are on a month-to-month lease. Both units are rented for $550.00 per month with a gross rental income of $13,200.00. The duplex is self-managed by the Owner. The rents are below the current market rent. Increasing the rents to $700.00 will have a cap rate return of 5%! This will expand positive cash flow and the market value in an insatiable rental area. The tenants have separate meters and pay for all utilities - water and power. Each floor plan includes covered porches, 2 bedrooms, 1 bath, living room, dining room, and laundry room. The roof was installed 10-12 years ago. The property includes two new 2021 HVAC units. 220 E Brooks features an updated bathroom with a new toilet, tile floors, new vanity, new tub, and new shower. The kitchen includes new laminate floors. The owner will consider owner financing.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable, but not guaranteed. Neither The Realtor Association of Greater Pee Dee, nor the listing broker, nor their agents or subagents are responsible for the accuracy of the information. The buyer is responsible for verifying all information. This information is provided by The Realtor Association of Greater Pee Dee for use by its members and is not intended for the use for any other purpose.