Income/Investment Property

This property is a Duplex located at 514-516 Euclid Street, Fort Morgan, Colorado.  Great income potential as this property has the possibility of being converted to a 4-Plex rental unit.  Currently, both units have 2 bedrooms and 1 bath but are in need of some repair and TLC.  One unit has a full unfinished basement; the other side of the duplex has no basement; and there are two additional separate basement units.  The basements have been framed and are ready to finish.  This property comes with a 2-car detached garage and sits on a large 15,000 square foot lot. Back yard is enclosed with a chain link fence.

The rental market is booming in NE Colorado, making this a perfect money maker for the right buyer.   The going monthly rental rate for a 2 bed 1 bath unit is $650.00 or $1,300.00/month for both units.  If the property is converted to a 4-Plex, it could potentially bring in $2,600.00/month or $31,200.00/year.  At that rate, it will have initially paid for itself in 3.5 years.  The garage can also bring in extra income - gravy on top!! Don't miss out on this great investment opportunity! Priced to sell at only $110,000.00.   Call Jackie at McFeeders Realty for more information at 1-800-889-7816.