12.75 CAP. OWNER FINANCED APARTMENT BUILDING. Only need $60k down

[James Wise]

This property is HOT HOT HOT!!!

4313 State Rd. Cleveland Ohio. 44109.

Right in the center of The Holton-Wise Property Group's operating area.

Asking price. $133,900.

Based on our Pro-Forma that Jason Horton drew up on the property and the expectation that we rent the vacant unit for $500 we end up with total monthly rents of $2,300.

With those numbers the building is a 9.8 CAP

I believe that over the course of the year we can push the rents up on each unit to as high as $525 per unit. At $525 a unit that takes the gross rents up from $2,300 per month to $2,625 per month. That's another $325 per month.

That would bring the building up to a 12.75 CAP

The owner is not willing to release any rent rolls or tax documents. It is my understanding that a lot of the rent was "cash only" However he is willing to provide leases and is willing to finance the building with a $60,000 down payment.

• 15 Year amortization
• 5 year call
• 7% Interest

Contact your Holton-Wise agent to put in an offer or to get the full pro-forma. If you are not currently working with a Holton-Wise agent and would like to see the full pro-forma or place an offer

CLICK HERE

www.HoltonWisePropertyGroup.com

Contact a Holton-Wise Agent today.

Passive cashflow. Have helped many Biggerpockets members invest in Cleveland Ohio Real Estate.

Can work with you in several ways.

-Rental Properties from the MLS-

-Turnkey Properties-

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