56 unit apt building 11% ROI improves to 16.25%.

[Mark Milan]

56 unit class C apartment building in NY State. Profitable starting point. Partial turn around, partial value add.

The entry:
$1.6 million cash purchase = day one $177k NOI. 11% annual ROI.

The 6 -12 month Plan:
Improve existing rented space occupancy from 90% to 95%. Prep and rent additional spaces owner never cared to rent. NOI increases to $260k. 16.25% annual ROI. Convert basement space to storage and parking - increase NOI an additional $25k - $40k annually.

Hold.

OR

The Exit:
Price to attractive 9% cap (market cap rate is 7% to 8%) and sell for approximately $2.8 million - an additional 75% return on original investment.

This is a turn key operation as building manager/maintenance person is willing to stay.

Seeking a cash buyer. I'm willing to remain after sale to execute on the plan for a project management fee plus a % bonus plan to be tied to successful plan execution - in either a sale or long term hold strategy.

I can also help you purchase this building using your IRA if you're looking for a nice annual return with far less risk than the stock market or other financial instruments.

If interested email me at:
[email protected]