203 Washington St, Stockton, CA 95202, USA
    $ 375,000.00
    30k Reduction! Off Market Cash-Cow

    203 Washington St, Stockton, CA 95202, USA
    • Bedrooms: 10
    • Area: 3000 sq ft
    • Status:
    • House Type: Multi-Family

    Description

    – Off Market Wholesale deal under contract ready to assign
    5 bed 3 bath  converted into a 10-Bedroom Rental House|  ~3,000 sq ft
    • Email/Call for Appointment
    • 3000 square feet 5 bedroom 3 bath house converted into a 10 bedroom individual room rental house. Similar to a boarding house (Seller has no license)
    • 5 of the bedrooms on 1st floor share a bath
    • 4 of the bedrooms on 2nd floor share a bath
    • 1 room (second floor) has a private bath.
    • There is a shared kitchen – all it has is a sink, stove and microwave. Not much cupboard space and no table.
    • There is a laundry room but there is no washer/dryer.
    • 6 rooms are vacant. – 2 of these have been recently constructed and have never been rented.
    • There are 4 tenants and 2 are being evicted. One of the tenants being evicted has caused some damage (broken bath sink, broken window).
    • Seller kept it fairly full via AirBnB. She has not rented new rooms in a while because she wanted to sell and knows cash buyers like it vacant.
    • Current rents are 750, 650, and 575. One tenant being evicted has not paid rent.
    • Seller hired a contractor who started renovations but then quit.
    • No permits were pulled to convert the rooms.
    • Fully rented it could bring in excess of $6000 a month as is. With improvements it could be more.
    • Kitchen and baths need upgrades. Needs sheetrock in places. Could not see 3 of the bedrooms but the vacant ones appear to be in ok shape. Several broken windows would need replacing.
    • Click Here for Interior Pics
    Purchase Price: $375,000
    As-Is Monthly Rental: $6,000
    After Repair Rents: Buyer to Determine

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Fix & Flip Financing

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