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Description


This is an old boarding house ,built in the early 1900s. There are 8 rentable roooms and a manager apt. At present all rooms are rented. The weekly income from this property is 700.00 per week or 36k per year income. The property is in good condition with on board manager. He does all maintainance in exchange for his apt for himself and son. the units are fully furnished, the house is air conditioned. the tax value of this property is 55k the annual tax for county and city is 750.00 per year. The expenses for operating is 800.00 each month, sometimes less depending on electrical usage. I have no second on this property and owe 10k to the mortgage holder. there are no back taxes or liens other than the first. The property is up and running and rarely has an opening for rent. This is listed as a private home so no licence is required to operate. All rentals are on a weekly basis,no eviction required if someone doesnt pay rent. Manager lives on site so we have no problems at all. I have owned this property since 1994,and my wife and I wish to sell this house and our own home as well as some land ,so that we can move to the beach and enjoy our old age and maintain our health as we both have had heart surgery. A smart person could invest in this property and get his investment back in just a few years. please call me for any further details.





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Property Details

436 caroline street

  rockingham

Name NC

Open Home Times any

  Commercial

 

Bedrooms 8

Bathrooms 2

Price $ 85,000

Land Size 1 acre

House Size 4000 sq. feet

Garage n/a

Parking lot

Rental yes

Garden no

Pool no

Status For Sale

Activities none

Location facilities In town




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