5 Plex for $400k. Would consider financing with large down payment

[Steve Burleson]

Hey folks.  I have a property an hour north of Houston in Livingston TX.  It is a single level, 5 unit complex.  2bed/1ba units.  I also own the plot of land next to it, which would accommodate another 5 unit complex and the city is very welcoming to developers wanting to increase housing.  I would include the empty lot with the 5 plex.  The current rents are $650, $700, $790, $800, and we are currently processing an applicant for the 5th unit at $800/mo.  The renter at $650 is month to month and can be increased as seen fit by a new owner.

I currently have it listed with a local realtor at $400k.  I would carry shorter term contract with $200k down.

Thanks for your interest.

Steve