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Updated over 15 years ago,
193 unit - Feedback
Good evening...
Well…I believe this property is worth taking a second look .
Property has undergone rehab but still could use upgrading. Blue collar profile and working class property. 3 story garden style.
I’m relying on sellers OE being accurate. We all know how that goes.
Good Demographics.
Upside potential.
Occupancy – 87%
193 units
Rents are low.
1 bed @ 52% ( $393.00 )
2 bed @ 48 % ( $515.00 )
3 bed @ none
PRICE – $ 4,190,900
2008
Effective gross income - $ 893,304
Operating expenses - $ 472,000
Net operating income - $ 421,200
Cap rate 10.05 %
Please give me some feedback. What do you see here?
Ray..
:wink: