Multi Family Properties

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Are there programs for fixer-uppers?

If you need a home loan to buy a "fixer-upper" and remodel it, look at the U.S. Department of Housing and Urban Development's Section 203(K) loan program. The program is designed to facilitate major structural rehabilitation of houses with one to four units that are more than one year old. Condominiums are not eligible.
A 203(K) loan is usually done as a combination loan to purchase a "fixer-upper" property "as is" and rehabilitate it, or to refinance a temporary loan to buy the property and do the rehabilitation.

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1511 Railroad Ave
Company: Montana Legacy Real Estate
Price:USD $ 139,000
GREAT INVESTMENT PROPERTY

This recently listed property is a very well maintained duplex that has been owned by one family for decades. Pride of ownership is evident throughout the building as well as in the manicured back lawn and gardens. The rental property has had nearly 100 percent occupancy for the past 15 years and will cash flow at the existing rents.

The lower unit is 888 square feet with two bedrooms and one bath with a charming kitchen and a separate laundry room. All appliances stay, including the washer and dryer. Extended living space is provided by the covered outdoor patio and the large lawn with flower and vegetable gardens.

The upper unit is 630 square feet with one bedroom and one bath. The bedroom has a walk-in closet with washer and dryer hook-up. Both units share the large storage barn/shed in the back of the property.

The sellers have priced the duplex for an immediate sale, so don’t miss your chance to own this super investment property. Call Jack today at 431-0599.

See the VIRTUAL TOUR here.
MLS: 273555
Bedrooms: 3
Bathrooms: 2
Square Ft: 1518

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