Big FourPlex
All Three Bedroom Units
$198,000
4003 E 9th Avenue
(Past Listing, for illustrative purposes only)
Living in a four-unit apartment building is a popular means for people on a budget to
have a truly rent-free situation. These apartments rent for $750 per month each, so two of
them just about cover the mortgage payments. The third rent covers utilities and a
generous reserve for repairs, maintenance and long-term capital improvements.
FHA and VA financing are readily available for owner-occupants. The low- or zero-down
payments of these programs minimize the cash contribution required from the borrower. With
interest rates in the seven percent range at the time this property came on the market,
it's an opportunity to enjoy the ownership benefits of a substantial asset.
This is a security building, meaning the front door always stays locked. There is an
on-site laundry facility, a fenced yard, storage for each apartment and a generous amount
of off-street parking from the alley behind the building.
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