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

所有跟帖： 

• good one indeed. -萬楓- ♂ (0 bytes) () 02/28/2012 postreply 16:03:55

• 看來競爭比我們這裏激烈。 -sweetptt- ♂ (0 bytes) () 02/28/2012 postreply 16:04:53

• for 2br probably interior area on the small side. -borisg- ♀ (0 bytes) () 02/28/2012 postreply 16:35:57

• 我這裏的一個地主有150個單位。房子都在中等區。去年他跑到差區吞並了300個單位的一家倒閉地主。 -sweetptt- ♂ (51 bytes) () 02/28/2012 postreply 18:11:04

• 看來我需要搬到你們那裏去住，當個大地主，在我們這兒，你那building也就是530sf 1 br. -懷著我的夢想- ♀ (0 bytes) () 02/28/2012 postreply 18:36:43

• :( sorry -小心翼翼的小地主- ♀ (0 bytes) () 02/29/2012 postreply 06:08:03

• CAP rate 真不錯！ 可惜了 -MLJ- ♀ (0 bytes) () 02/29/2012 postreply 08:20:36