1003 Myrtle Street

CASH FLOW $107,000 current annual rent income - reliable tenants. TWO SINGLE FAMILY houses - with total THREE completely separate, detached residences. * The TWO houses are STAND ALONE & SEPARATELY metered for gas, electric and water, each has its own mailing address. Add - TWO ADUs , you will end up with FIVE residences. ** Seller has APPROVED PLANS from the city & Building PERMIT for ADU. Will be TRANSFERRED at NO additional cost (see supplements) Reach CAP rate - Upto 8% CAP / and additional $40,000 annual rent increase with those TWO additions: One ADU unit (2 beds, 1 full bath) & build an addition (1 bed/1 bath & kitchen) to the FRONT HOUSE. Increase in RENT by another $3,450/month with ADU. Even with only a 3% rent increase - you will end up with over $3,500 additional rent each consecutive year. Currently 3 units – 9 rooms, 4 FULL bathrooms & 5 car garage can be turned to 5 units – 12 rooms and 6 bathrooms ** In 2022 MAJOR REMODEL for both houses was done, new windows, new floors everywhere & kitchen & bathroom cabinets IN 1986, BACK house SFR was build 7 rooms & 3 Full Bath, split into 2 units from inside. Original FRONT single family House, one level, 2 beds & 1 FULL Bath. Sitting on a LARGE Lot approx 9,583 sq.ft Currently leased to reliable tenants at above-market