Great investment property on Bloomington south side

This investment property is a great opportunity for a 15 year fixed rate and still provide good cash flow.  The unit could be paid off in time to fund a child's college education or supplement retirement income.

One unit is leased until May 31st 2010.  The other is lease through July 31st, 2010.  Rent income is $1,600 per month.  Tenants pay for their water, electricity, and trash collection, landlord pays for lawn maintenance and general repairs and up-keep.  The building is all electric, no gas.  There is no common electrical utility bill.

Both units are about 1,200 sq ft, with a large living/dining area, a kitchen with refrigerator, range and dishwasher included, one bedroom and full bath downstairs, and two bedrooms and a full bath upstairs. Bedrooms are good size with lots of closet space. Each unit has a 1 car garage, and washer/dryer hookups in the garage. Decks off the living room to the back with a small but open backyard area.

175 Willow has brand new carpet, fresh paint throughout, new bathroom vanities, new trim in the upstairs bathroom and mostly new trim in the downstairs bath, and a new patio door.  

Unit 173 had new carpet installed in 2008 and freshly painted throughout, as well as a new stove and new HVAC system.  Laminate wood floor in the kitchen and entryway was installed in 2005.  Unit 175 had a new dishwasher installed in 2007, and a new HVAC system in 2008.

This building is a one minute drive from Kroger, Wendy's, Subway, and Blockbuster on the south side of town.