Property Description:
Owner of this property (market value is approximately $950,000) wants investor to purchase this legal triplex from him for 12 months. Recent gorgeous remodel in this 100 percent en-suite (every bedroom has private bath) home. Triple net lease with substantial security deposit ($10,000) . All major mechanicals new in 2019. $8,000 in monthly leases to be provided prior to closing. You buy it from him for $850,000, and he purchases it from you in 12 months for $900,000 plus any costs you have incurred. He is pre-approved for re-purchase after 2020 tax returns filed, but not before. Repurchase clause is mandatory for this deal, as he has no intention of parting with this cash cow property, but has to pay off a contract for deed soon.