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Located in the Beautiful Scenic North East Iowa Community of Elgin, Iowa at 405 Washington Street.  This Investment Has its Own Private Cul de Sac Community Setting.  It Consists of a Set of 5 Super Well Kept Single Story Brick Buildings that were Constructed Originally in 1981 by One of the Area’s Premier Contractors.  This Well Kept Investment Sports a Solid Occupancy Rate; All Brand New Roofs in 2013; And the Following Features:

Gross Rent Potential $7,376.00 Monthly    Running Approximately a 10% Vacancy Rate

Water and Sewer and Garbage Pickup Furnished Running Approx. $595.00 Monthly

All Brick Buildings       Blacktop Parking Lot         Quiet and Private Residential Location

Furnishing Some Electric w/ Total Monthly Costs Approx.  $333.34            Insurance $2,240 a yr.

All New Roofs ’13       1 Community Room      Gazebo Common Area Outside

2 Coin Op Washer/Dryer Sets Producing Approx. $1800 a Yr.  Very Good Condition In & Out

Court Yard Parking Lot w/ Designated Parking Spots       All Rental Units are Equipped with Ranges, and Frigs

Produces a Historically Sound 7% Return on Investment

Taxes: Approximately $6,600.00 a Year for the Set

If You Are Looking for a Sure Thing in an Investment, This is It.  The Structures Were All Built Up to Full FHA Standards and Have Been Super Well Kept Ever Since.  I am Truly Impressed with the Condition of these Properties.  This is a Once in a Lifetime Opportunity.

We Are Asking

$840,000.00 for the Package

“Rightway Realty”

Gary K. Willman Broker
PO Box 818
31663 Hwy 52
Guttenberg, Iowa  52052

Proudly Licensed in The State Of Iowa
http://www.rightwayrealty.com

Cell Phone 563-599-7196
Office Phone 563-252-1144
Office Fax 563-252-1151
rightway@alpinecom.net

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