4-Family Rental Properties, Part 3 of 4

Dawn Griffin Posted by
Investment Spotlight Dec 2008

5247 Bancroft is an interesting property because it would make a great owner occupied investment property. Judging from the pictures, it looks like one of the first floor units has a spiral staircase to a finished lower level creating a two bedroom apartment. So if you are looking to owner occupy, you can keep the larger unit for yourself and rent out the other which should cover your entire mortgage.

Positive

Fully rented this building is bringing in $1700 a month. Sounds like the current owner is willing to make some improvements to sell. Off street parking in rear

Some Reservations

This building has interior entry to each unit, which means that the hallway is common space which is less appealing because it would not be possible to convert to fee simple town homes in the future. This probably isn’t a concern for most investors, but if the for sale market ever sky rockets again, it would be a nice option to have.

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