9 Unit For sale 13.75% Cap Rate Owner Financing

[Timothy Brubaker]

9 Unit brick for sale. Each unit has been completely remodeled over the course of the last 2 years. All rented besides the one we just finished fixing up. Exterior painted last month. Also new hot water heater installed. Electric is metered per unit tenants pay there own electric. Heat is baseboard electric heat. There is common areas the land lord has to pay electric and gas. Each unit has 2 entrances. 4 1 bedroom units 4 2 bedroom units 1 efficiency. The only negative is that the roof is nearing the end of its life it is currently not causing any problems.

I am willing to finance over 40 years at 10% interest APR with $40,000 down. After payment and expenses you should cash flow $1,320 and build equity in a solid building.

Rent Roll

Unit Monthly rent Status
472       600               Rented

474       450               Rented

476       475               Rented

1466 A 450              Rented

1466 B 500               Rented

1466 C 450                Rented

1466 D 500               Vacant

1466 E 525                Rented

1466 F 500                Rented

Laundry30 ish

Total$4,480

Expense Report Monthly

Grass 30

Insurance 180

Water 325

Trash 100

Electric 60

Gas 60

Management 450

Taxes 432

Total 1632

Mortgage payment with 40 down$1,528

Total Cash flow $2848

Positive Cash flow after mortgage $1,320

Based on 10% interest rate over 40 year amortization.