Reduced Price on 10 Unit Apartment Complex in Atlanta

[Justin Fernandez]

The property is halfway rehabbed, with plumbing, flooring, and framing completed. The building is wired, but will need fixtures to wire into. 

Notes: With this property, you can leverage this property and buy adjacent properties at discounted rates. Other properties that owners are wanting to sell:

200 Troy St, 30314 (Open Parcel Lot Next Door)
192 Troy St, 30314 (Similar Building 2 Lots Over)
205 Troy St, 30314 (Across from Building)
*You can go from 10 doors to 40+ within 3 years. All properties are right next to each other*

Financials (Pro Forma)
4 (2bd/1bth)Monthly Rent: $ 3,664.00 (Section 8)
6 (1bd/1bth)Monthly Rent: $ 4,080.00
Total Monthly Rent: $ 7,744.00
Annualized Rent: $ 92,928.00(Buy and Hold Annual Income)
NOI (Expenses @ 55%) $ 41,817.60

Acquisition
Purchase Price: $75,000
Rehab Cost: $89,168.00
Closing Cost: $1,200.00
Total Cost: $165,368.00

Profit
Exit Values (Rehab, Fill and Sell)
Cap Rate @ 15% $ 278,784
Exit Value: 250,000, Potential Profit: $85,832
Annualized Rent: $ 92,928.00(Buy and Hold Annual Gross Income)

You can see pictures at www.redlionrealestate.com/10unit

Regards,

Justin