Summary
Immediate cash flow opportunity with 90% occupancy - Trailing 12 NOI is approx. $39k. Central air throughout all units, and rentals are in high demand in this easy to lease area. Property has been self-managed and needs $7200 in foundation repair, a new roof and cosmetic updates in each unit to achieve value-add market rents. All units are m-t-m leases.
- Purchase: $285,000
- Taxes: $2,689.82/yr
- Insurance: $1,100/yr
- NOI Actuals: $39,000
- NOI Proforma: $44,000
- Unit mix:
- (8) 1 bedroom/1 bath - $350/400/mo current rents ($500/mo market rents)
- (2) 3 bedroom/2 bath - $600/mo current rents ($625-650/mo market rents
- Est. Repairs:
- Foundation: $7,500 (per foundation quote)
- Roof: $15,000
- Cosmetic: $50,000 ($5k/unit)
1. Tallbridge Real Estate is selling their equitable interest in the contracts to purchase the aforementioned properties. All properties are sold for cash or hard money.
2. Buyers responsibility to do your own due diligence and verify all information.
3. Prices are NET to seller with buyer paying all closing costs unless otherwise stipulated.
4. Opinions of value / rents are given as a courtesy and no guarantees are expressed or implied.
Street View
Location
current deal
comparables
available
sold
#2
$123k
$99k
| Bedrooms | |
| Bathrooms | |
| Sq. footage |
Deals nearby
Available
Sold