lost the 16 unit to a cash offer...

new year's resolution...

2011-12-22 16:45:43

I been eying on this one few months now.

 

this little 16 unit complex, consist of 4 4plexes, all 2 bedrooms, is right next to our 40 units, separated by a creek, mostly Mexican tenants, current rent is $425-475, will ne ed some update, but overall its in decent shape.

 

comparable rent for its size, should be about $495-525, while our updated 2 bedrooms next to it, are going for $575-$595.

 

 

 

plan of actions.

 

1. listing agent is a good old friend,  at first, I will approach with seller financing proposal.

 

2. ....

 

 

 

• Price:
  
  $405,000


• Property Type:
  
  Multifamily


• Property Sub-type:
  
  Duplex/ Triplex/ Fourplex


• Property Use Type:
  
  Investment


• Cap Rate:
  
  11.44%


• No. Stories:
  
  2


• Lot Size:
  
  1.14 AC

Description

 

4 bldgs. =2,640 each
16 Units=4 per building
All wood exteriors in a wooded setting.
Two units up and two down, interior foyer for all units use.
Downtown restaurant/retail
Near the Medical service and new commercial developments including Super Market