7.5 % Cap Rate on Mid Town Rental Property. Desirable area.

Triplex plus duplex are seperate parcels, but offered together by owner who has enjoyed a high occupancy rate and good tenants in this desirable area of mid town Mobile. The house on corner could be converted back to single family, or remain as triplex. Owner pays all utilities there, The adjoining property (duplex) was originally a neighborhood store and later converted to a duplex. Owner pays water here. The triplex, rent is: Apt A, 600.00, Apt B, 600.00, Apt C, 650.00. The duplex rents for 650.00 and 650.00. Taxes, Insurance, utilities, and lawn care over the past 4 years averages around 600.00 monthly. A Termite bond is in place on both buildings. Each unit has been updated over the past 5 years. This property is easily managed and enjoys a high occupancy rate. I believe that this is in part to the location and character of the buildings. There is off street parking for each of the apartments. Also, there is a coin laundry set on the property for extra income, It is on a locked back porch of the triplex. (Owner is licensed Realtor in Mississippi)