Phenomenal return on investment from these two rooming houses. Each side of the duplex are available for sale at $285,000.
This property consists of two separate duplex units on separate titles. Each side has two living rooms, two kitchens, two dining areas, two laundry rooms, two bathrooms and 6 bedrooms. Over the last couple of years this property was redeveloped and refurbished with new furnaces, hot water tanks, new air conditioners, new roof, all new baseboard and casing, light fixtures, switches, plugs, and upgraded electrical.
Presently they are both being operated as a Rooming House bringing in $4,000 to $7,000 a month gross revenue with the cost of housekeeping, management, utilities, property insurance and taxes causing each side to net approximately $3,500 a month on average. Thus producing an excellent ROI. Both sides are fully furnished with everything from the smart TVs, dishes, pots and pans, and linens, with the beds having a 10 year warranty.
Recently renovated, these properties have proved to be particularly popular with companies that like to attract their employees by providing them with accommodations near their work. Others have crews that pool together to take advantage of the discounts available if paid by the month or a year’s lease.