12 Unit Apartment complex in Indianapolis 17% cash-on-cash!! 299k

[Corky Bless]

12 unit apartment complex (2 six unit buildings side by side).  Single story, cinder block construction.  Unit mix is eleven 2 bed 1 bath units, one 1 bed/bath unit (other bedroom is community coin op laundry for complex).  Presently 3 section 8 tenants and 3 market tenants.  Recent property manager switch and ALL remaining units will be rent ready by the close (4 already are).  Durable vinyl flooring in all units.  All individually metered for water/electric and tenants are responsible for their own utilities (no gas at this property).  Property is in excellent condition with all units being rehabbed within the last year.  Roof is only 5-6 years old.  Property was built in the mid 50's so it's not a money pit of maintenance.  

Please shoot me questions on the property.  Seller would prefer a cash sale, however there may be an option to assume the $150,000 mortgage that is on the property.  Please see attached financials based on 90% occupancy.  With leverage this property is North of 20% cash-on-cash.  

Message me for the flyer/financials if the link does not work and I will send it to you directly.  

Flyer and financials for Indy 12 unit