414,418-420,422 Willow N
Paullina IA 51046

Investment property opportunity deserving serious consideration! Total of 5 units within 3 separate buildings & all are rented. Your tenants have the benefit of available garage units for rent. Summary for each unit: #414: (Green home-south unit) 3 bedrooms, 1 full bath. Baseboard electric heat, p-tac cooling unit, stove & frig included, steel roof, updated vinyl sliders on most windows. Currently rents for $700/month. #418: (Tan home-center building) 1 bedroom, 1 full bath. Mini-split a/c unit. Currently rents for $550/month. #420: (Tan home-center building) 2 bedrooms, 1 full bath, window a/c unit. Currently rents for $675/month. #422: (Blue home-north building) 1 bedroom, 1 full bath. Mini-split a/c unit. Updated unit. Currently rents for $550/month. #424: (Blue home-north building) 2 bedroom, 1 full bath. Vinyl sliders for windows, not updated. Currently rents for $675/month. 7 garage units: two are vacant. Four have updated doors and automatic openers. Yields $160/month. Tenant pays their own utilities. Total Income = $3150/month (doesn't include garage rental at $50 per unit). Expenses = $612/month (insurance, property taxes, mowing, snow removal, electric). Additional expenses are property management, repairs/maintence, renovations.

Legal: 414 Parcel: METCALF'S FIRST ADD S 20' OF LOT 2 AND N 40' OF LOT 3 BLK 9. 418- 420 Parcel: METCALF'S FIRST ADD LOT 2 EXC N 115' AND EXC S 20' 422- 424 Parcel: METCALF'S FIRST ADD N 115' OF LOT 2 BLOCK 9