Smoking hot deal!! 16 unit apartment complex

[Victoria Malik]

Ridge creek apartments

970 Dixon road

Jackson MS, 39209

PRICED RIGHT AT 398,900

Gross rents; $8355 mo

Potential gross rents ; $9,200 mo

Unit mix;

12- 2 bedrooms 1 bath

4- 3 bedrooms 1.5 bath

3 bedrooms $650

2 bedrooms $485 (should be increased to $550 a month totaling the potential rent)

Occupancy 94% currently was 100% one tenant vacated and one will in a month or so.

Expenses;

Trash $220 mo ( dumps twice a week)

Security lights $45 mo

Insurance $400 mo

Taxes $730 ($2,200 a year per building - 4 buildings totaling $8,800 year)

Lawn care $300 mo

Property is in good condition. Fairly new architectural shingle roofs, central A/C and Heat.

* Don't forget to calculate maintenance and vacancies in your ROI although vacancies aren't very frequent. Maybe 2 a year

*Motivated to sell, out of state Landlord. Will probably list on the market in 2-4 weeks

**** Can possibly help get financed around 5% with 20% down and credit approved***

Please contact Victoria Malik at ; (925)529-7662

[email protected]